Question
Please solve questions 1 and 2. Please attach excel spreadsheet with the work and steps. 1.) Given annual interest rate 6.25%, length of term 60
Please solve questions 1 and 2. Please attach excel spreadsheet with the work and steps.
1.) Given annual interest rate 6.25%, length of term 60 months, monthly payment $280.00, and total number of payments $16,800.00, calculate the loan principal. Please calculate the loan principal using an amortization table and VLOOKUP functions in excel. Please attach the excel spreadsheet with work.
2.) Given loan principal is $50,000, length of term is 72 months, monthly payment is $760.00, and total of payments is $54,720.00, calculate the annual interest rate. Please calculate the loan principal using an amortization table and VLOOKUP functions in excel. Please attach the excel spreadsheet with work.
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Managerial Accounting
Authors: Carl Warren, William B. Tayler
15th edition
1337912026, 978-1337912020
