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They took out a bank loan for 380,000 for 8 years (they are 3 years into the loan) at 8.3% interest. Use the Excel Sheet

They took out a bank loan for 380,000 for 8 years (they are 3 years into the loan) at 8.3% interest. Use the Excel Sheet provided in this folder to determine their loan payment each month. D1 is the bank loan amount. D3 is the interest rate. F2 is the term. C1 is the answer you need, which is the payment each month.

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