1. What is the present value of $7,000 per year for 12 years if the interest rate is 6%?
2. You are going to borrow $360,000 to buy a house. What will your monthly payment be if the annual interest rate is 3.3 percent and you borrow the money for 30 years?
3. You borrow $62, 000 to be repaid in 6 equal payments at the end of each of the next 6 years. The bank charges 4 percent compounded annually. Prepare the loan amortization schedule.
4. How would i do these on excel? Thanks