Question: Example 2.13 Determine the interest rate per month for both repayment plans without using excel function. (O Point) (In exam you will only need to

Example 2.13 Determine the interest rate per month for both repayment plans without using excel function. (O Point) (In exam you will only need to solve by excel software) D F H =B4-20 E4*(1.20) 1 2 Month 3 4 1 5 2 6 3 7 4 8 5 9 6 10 7 8 12 Total paid back 13 Rate per month 14 15 16 Cash flow, $ G = $20 600.00 - 100.00 -120.00 - 140.00 - 160.00 - 180.00 -200.00 -220.00 -240.00 1360.00 19.1% E Cash flow, $ g -20% 600.00 - 100.00 - 120.00 - 144.00 -172.80 -207.36 248.83 -298.60 -358.32 1649.91 22.9% 11 SUM(E4:E11) IRR(B3:B11) IRR(E3:E11)

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