X 5 Calculating annuity present values - Excel FORMULAS DATA REVIEW FILE HOME INSERT PAGE LAYOUT VIEW Sign In Calibri 11 A % M Paste BLU- Alignment Number Cells Editing Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 fx B C D E F G H H 1 3 3 You want to borrow $89,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,850, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan? 4 5 6 7 8 $ $ Price of sailboat Monthly payment Months for loan Months per year 89,000 1,850 60 12 9 10 11 Complete the following analysis. Do not hard code values in your calculations. 12 13 14 15 Monthly rate 16 APR 17 18 19 20 - Sheet1 READY HH! + 100% Attemntis)