Question: Create a new workbook in Excel. Please include an input area and an answer area for each problem. You will have an answer for each

Create a new workbook in Excel. Please include an input area and an answer area for each problem. You will have an answer for each bullet point. Formatting is up to you. Just make sure it is easy to tell where your answers are, and what equation you used in excel to get the answer.

3. You know that you could afford to make a monthly payment of $450 towards a short-term loan of 5 years, but are wanting to know how much in total you could borrow with that level of payment.

How much could you borrow with an annual interest rate of 8 percent?

Of 6.5 percent?

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