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How do you solve this using excel? Exercise 2.9: Eneros Inc. is buying a new machine for $450,000. The life of the machine is 10
How do you solve this using excel?
Exercise 2.9: Eneros Inc. is buying a new machine for $450,000. The life of the machine is 10 years, and a bank is ready to finance the entire amount at a rate of 10% per year. The bank would like Eneros to pay back all interest due on the loan, and the loan amount broken into 10 equal payment of $45,000 per year. a. Create an equivalent scenario for this situation. b. What would be another equivalent scenario if Eneros prefers to make 10 equal payments the bank including the principal and interest? Exercise 2.9: Eneros Inc. is buying a new machine for $450,000. The life of the machine is 10 years, and a bank is ready to finance the entire amount at a rate of 10% per year. The bank would like Eneros to pay back all interest due on the loan, and the loan amount broken into 10 equal payment of $45,000 per year. a. Create an equivalent scenario for this situation. b. What would be another equivalent scenario if Eneros prefers to make 10 equal payments the bank including the principal and interestStep by Step Solution
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