Determine manually the monthly repayments needed to repay a $100000 loan if: a) the loan is paid

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Determine manually the monthly repayments needed to repay a $100000 loan if:

a) the loan is paid back over 25 years when the interest rate is 9% compounded annually,

b )the period of repayment is reduced to 20 years and the interest rate rises to 10%.

c) In each case above, write Excel functions those can be used to compute monthly repayment. Provide the screen-print of the Excel file and the solution.

Related Book For answer-question

Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

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Posted Date: Jun 23, 2021 11:52 PM

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Determine manually the monthly repayments needed to repay a $100000 loan if: a) the loan is paid

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Mathematics for Economics and Business

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