A bank offers different interest rates on loans. The rate is based on the size of the periodical repayment ( CF i ) and the following table. Write a present value function BankPV(CF, r) so that it reflects the present value of a loan in the bank. The function should be useable as a worksheet function. CF could be either a row range or a column range.

For Periodical Repayments < =            The Interest Rate Is
100.00.........................................................r
500.00.........................................................r − 0.5%
1,000.00......................................................r − 1.1%
5,000.00......................................................r − 1.7%
1,000,000.00...............................................r − 2.1%