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please help with excell formula. how to put this in excell Problem 4-13 You have a loan outstanding. It requires making three annual payments at
please help with excell formula. how to put this in excell
Problem 4-13 You have a loan outstanding. It requires making three annual payments at the end of the next three years of $1,000 each. Your bank has offered to allow you to skip making the next two payments in lieu of making one large payment at the end of the loan's term in three years. If the interest rate on the loan is 5%, what final payment will the bank require you to make so that it is indifferent between the two forms of payment? Annual payment Interest rate Number of payments S1,000 5.00% 3 Future value equirements 1. Start Excel - completed. In cell C10, by using the function FV and cell references, calculate the future value of the three 2. year annuity (1 pt.). Note: The output of the function in cell C10 is expected as a positive value. 3. Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directedStep by Step Solution
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