Question
How do you calculate this function on Excel to get the answer provided? Cooper corporation has borrowed $120,000 from the bank at 8% annual interest
How do you calculate this function on Excel to get the answer provided?
Cooper corporation has borrowed $120,000 from the bank at 8% annual interest rate, compounded monthly. The company plans to pay $2000 per month for the first 12 months, and then pay $2500 per month for the next 12 months. Find the remaining balance of the loan after 24 months. (Answer: $82655.21)
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AI And The Future Of Financial Services Strategy For Implementation Of AI In Banking And Finance
Authors: Milo Fudacz
1st Edition
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