1. Your case company wants to purchase an asset. To finance this asset, they approached their bank. The bank has offered a fixed rate of 6% APR, compounded monthly, with your case company to make monthly payments of the amount shown in Table 1 (page 4 of this document) at the end of each month for 5 years. What amount is your case company borrowing? Payment per period (CF) Number of years (n) Annual interest rate (r) No. of compounding periods per year (m) Number of periods (mxn) Periodic rate (r/m) Present value (PV) -$536 5 6.0% 12 60 0.5% $27,724.90