Question: Problem 55. How can I solve using excel functions? LO1 54. Calculating Future Values. If today is Year 0, what is the future value of

Problem 55. How can I solve using excel functions?

LO1 54. Calculating Future Values. If today is Year 0, what is the future value of the following cash flows five years from now? What is the future value 10 years from now? Assume an interest rate of 5.8 percent per year Year Cash Flow $15,000 24,000 33,000 LO3 55. Amortization with Equal Payments. Prepare an amortization schedule for a three-year loan of $54.000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan

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