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Problem FEX-02 [Points: 1/4]. Using a spreadsheet, calculate the original loan amount of a used car based on a yearly nominal interest rate of 8%,
Problem FEX-02 [Points: 1/4]. Using a spreadsheet, calculate the original loan amount of a used car based on a yearly nominal interest rate of 8%, but paid compounded bi-monthly (every two months). Compute the principal payments and interest payments when they are made by-monthly (every two months) for two years. Hint trial and error on the principal until the debt is covered exactly in full. Problem FEX-02 [Points: 1/4]. Using a spreadsheet, calculate the original loan amount of a used car based on a yearly nominal interest rate of 8%, but paid compounded bi-monthly (every two months). Compute the principal payments and interest payments when they are made by-monthly (every two months) for two years. Hint trial and error on the principal until the debt is covered exactly in full
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