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Recreate the above table in your own version of excel. The borrower wants to repay the loan in 23 months. What will be the new
Recreate the above table in your own version of excel. The borrower wants to repay the loan in 23 months. What will be the new monthly repayment? (answer to exclude $ sign and to include cents eg 680.66, and should be a positive number)
Loan Details Monthly (End-of-month) Payment (PMT) $680.66 Monthly interest rate (RATE) 1.15% Months to Pay Off Loan (NPER) 48 Amount of Loan from Bank (PV) $25,000.00 Recreate the above table in your own version of excel. The borrower wants to repay the loan in 23 months. What will be the new monthly repayment? (answer to exclude $ sign and to include cents eg 680.66, and should be a positive number)Step by Step Solution
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