Question: Must be solved using the PV and FV functions in Excel. 2) You obtain an installment loan to pay for graduate school in the amount

Must be solved using the PV and FV functions in Excel.

2) You obtain an installment loan to pay for graduate school in the amount of $30,000. If the lender charges you 7% interest and you are required to pay the loan off in equal annual installments over a period of 8 years, what is the amount of each installment?

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