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Assume you would like to take a loan to purchase a building and equipment to organize your own kitchen. You can get a 4.5% interest
- Assume you would like to take a loan to purchase a building and equipment to organize your own kitchen. You can get a 4.5% interest rate, you will need 20 years to repay the loan, and you budget a month payment of $1,500. Use PV function to find the loan amount (the present value) you can afford.
Loan conditions Interest rate 4.5% Length of loan 20 Payment USD 0.00 Loan
Use excel, and send me the formula used
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