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Please answer both questions in EXCEL FORMAT. A company borrowed money from a local bank. The note the company signed requires five annual installment payments
Please answer both questions in EXCEL FORMAT. A company borrowed money from a local bank. The note the company signed requires five annual installment payments of $30,000 beginning immediately. The interest rate on the note is 9%. What amount did the company borrow? Amount of each installment payment Interest rate Number of years \begin{tabular}{|r|} \hline$30,000 \\ \hline 9% \\ \hline 5 \\ \hline \end{tabular} Amount borrowed Formula must include the = PV function and return a POSITVE value A company borrowed money from a local bank. The note the company signed requires five annual installment payments of $12,000 not due for four years. The interest rate on the note is 7%. What amount did the compary borrow
Please answer both questions in EXCEL FORMAT.
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