Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can someone please help me with this? Your organization has decided to purchase a building, for 20 million dollars with yearly interest of 8% and
Can someone please help me with this?
- Your organization has decided to purchase a building,for 20 million dollars with yearly interest of 8% and the numbers of years to pay is 5 years
- Calculate the monthlypaymentwith a reasonable interest rate and length of time. Use the PMT formula in Excel to calculate the payment. provide the following:
Cost: ____$20 000 000
Yearly interest rate: ____ 8%
Number of years to pay off the loan: ____5 years
Monthly payment amount:?
Please provide the monthly payment amount
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started