1 Function: PMT; Cell referencing 2 3 Problem 6.13 - Computing Annuity Payment 4 PROBLEM 5 The Elkridge Bar & Grill has a seven-year loan of $23,500 with Bank of 6 America. It plans to repay the loan in seven equal installments starting 7 today. The interest rate is 8.4%. 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Loan Period Loan Amount Interest Rate $ 7 23,500 8.4% Student Work Area Required: Provide input into cells shaded in gray in this template. Use the PMT function with cell references to the Problem area. Answer the following: If the rate of interest is 8.4%, how much will each payment be. Payment =PMT(c11,c9,c10,0,1), PMT(c11,c9,-c10,0,1)

Problem 6.11 - Computine Annulity Parment PROELEM The theridge dar 5 Grili has a seven-year loan of $33,500 wats Bank of Anecica. It plams to repay the loan in sever equal installments starting today. The intecest rate is 8.4%. Loun Feriod Loan Amoury 525007 Student Work Ares Required: Provide input into cells shoded in gray in this template. Use the PMT function wah cell references to the Problem area. Merwer the followine: If the rate of Interest is 8.4K, how much will each poyment be. Payment Parment Problem 6.11 - Computine Annulity Parment PROELEM The theridge dar 5 Grili has a seven-year loan of $33,500 wats Bank of Anecica. It plams to repay the loan in sever equal installments starting today. The intecest rate is 8.4%. Loun Feriod Loan Amoury 525007 Student Work Ares Required: Provide input into cells shoded in gray in this template. Use the PMT function wah cell references to the Problem area. Merwer the followine: If the rate of Interest is 8.4K, how much will each poyment be. Payment Parment