Question: Please solve using Microsoft Excel Andrew wishes to borrow 200,000 from a bank. He observes three different banks can offer his needs. PB London Bank,

Please solve using Microsoft Excel Please solve using Microsoft Excel Andrew wishes to borrow 200,000 from a

Andrew wishes to borrow 200,000 from a bank. He observes three different banks can offer his needs. PB London Bank, Exxon Sheffield Bank, Life Edinburgh Bank. These are the following term of the loan. - PB London Bank would offer of loan that will be repaid with 40 equal annual payments made at the end of each year at i interest effective annually. - Royal Exxon Sheffield Bank charges an annual effective interest rate of i+ 0.005 with Andrew accumulating the amount necessary to repay the loan by means of 40 annual deposits at the end of each year into a sinking fund earning i0.03 interest effective annually. Andrew pays the interest of the loan to Royal Exxon every year. - Life Edinburgh Bank would offer of loan that will be repaid with 40 equal annual payments made at the end of each year at i0.015 interest effective annually with a lump principle payment of 50,000 at the end. The total interest payment charged by all three banks is 2,239,271.84. Compute total interest payment by Life Edinburgh Bank. Andrew wishes to borrow 200,000 from a bank. He observes three different banks can offer his needs. PB London Bank, Exxon Sheffield Bank, Life Edinburgh Bank. These are the following term of the loan. - PB London Bank would offer of loan that will be repaid with 40 equal annual payments made at the end of each year at i interest effective annually. - Royal Exxon Sheffield Bank charges an annual effective interest rate of i+ 0.005 with Andrew accumulating the amount necessary to repay the loan by means of 40 annual deposits at the end of each year into a sinking fund earning i0.03 interest effective annually. Andrew pays the interest of the loan to Royal Exxon every year. - Life Edinburgh Bank would offer of loan that will be repaid with 40 equal annual payments made at the end of each year at i0.015 interest effective annually with a lump principle payment of 50,000 at the end. The total interest payment charged by all three banks is 2,239,271.84. Compute total interest payment by Life Edinburgh Bank

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