Question: google spreadsheet A bank received $10,000.00 today as a final and unique payment for a loan that the borrower took 24 months ago at a

google spreadsheet

  1. A bank received $10,000.00 today as a final and unique payment for a loan that the borrower took 24 months ago at a 1.5% simple monthly rate.
  • What was the principal of that loan?
  • How much interest did the bank receive?
  • What compound interest rate per month will produce the same interest as this simple rate?

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