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Use excel and show formula 1. (20 pts.) You want to borrow $96,000 from your local bank to buy a new sailboat. You can afford

Use excel

and show formula

1. (20 pts.) You want to borrow $96,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $2,000, but no more. highest rate you can afford on a 60-month APR loan? Assuming monthly compounding, what is the

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