Complete this calculation in an Excel file using the financial functions found in Excel. We want to obtain a loan of $5,000 over 3 years. You see yourself proposing a interest of 7% per year. How much are the monthly payments?
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=PMT(Loan amount, interest rate, number of months) Show more…
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Use the appropriate function in Excel to answer the following question. How much money would you would have in a savings account at the end of 3 years if the following assumptions were true? You make payments of $25 a month to your savings account every month for 3 years. Your savings account has a fixed APR of 1.4%. Note: A fixed APR is an annual interest rate that does not change during the 3-year period. You will not take any money out of your savings account during this 3-year period. (Round to the nearest cent.)
Keondre P.
Supreeta N.
In cell B6, enter a formula to calculate the total paid over the life of the loan (the monthly payment amount in cell B4 * the number of payments in cell B2). Use cell references. In cell B7, enter a formula to calculate the total interest paid over the life of the loan (the total payments in cell B6 - the original price of the truck in cell B1). Use cell references. What is the process of this on the PVT? function? Thank you
Akash M.
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Principles of Economics
Principles of Microeconomics for AP® Courses
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