You have decided to loan your cousin $8,000 today. He will pay back the loan with...

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You have decided to loan your cousin $8,000 today. He will pay back the loan with annual, end-of-year payments over the next 6 years, with the first payment occurring a year from today (Year 1) and the last payment occurring 6 years from today (Year 6). He will pay an amount of SX in Years 1, 2, and 3 and $1.5X in Years 4, 5, and 6. a Suppose that you have decided to set X-$1,800. Use the IRR function to determine the annual interest rate that you are charging your cousin on this loan. (USE THE SHEET CALLED "4a") b. Ignore part a Suppose that you have decided to charge your cousin an annual interest rate of 10%. What does the value of X need to be? (USE THE SHEET CALLED "4b") You have decided to loan your cousin $8,000 today. He will pay back the loan with annual, end-of-year payments over the next 6 years, with the first payment occurring a year from today (Year 1) and the last payment occurring 6 years from today (Year 6). He will pay an amount of SX in Years 1, 2, and 3 and $1.5X in Years 4, 5, and 6. a Suppose that you have decided to set X-$1,800. Use the IRR function to determine the annual interest rate that you are charging your cousin on this loan. (USE THE SHEET CALLED "4a") b. Ignore part a Suppose that you have decided to charge your cousin an annual interest rate of 10%. What does the value of X need to be? (USE THE SHEET CALLED "4b")