Question: Complete these two questions using time value of money functions in Excel. Make sure you get your answer using Excel functions - not typing in

Complete these two questions using time value of money functions in

Complete these two questions using time value of money functions in Excel. Make sure you get your answer using Excel functions - not typing in an answer that you get from a calculator. Question 1. What amount did you borrow if your monthly payments are $1,975 and the interest rate on your loan is 5.625%. Assume a 30-vear loan. Question 2. How much do you still owe on a loan if your payments are $2,099 and the interest rate is 5.875%. Assume you borrowed $200,000 and you have been making payments of $2,099 for the last 40 months

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