Recreate the excel. You seek to borrow $1,500 from a friend to cover your gym fees....

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Recreate the excel. You seek to borrow $1,500 from a friend to cover your gym fees. You promise to repay the loan in 24 monthly repayments commencing today. If the effective annual interest (EAR) rate is 19.5% what is the amount of the monthly repayment? (answer do not include $ sign; show cents eg 100.00) Answer: A 1 Loan 2 Beginning-of-month repayment 3 Interest Rate, i 4 Months, n 5 Amount of Loan 24 $1,500 Recreate the excel. You seek to borrow $1,500 from a friend to cover your gym fees. You promise to repay the loan in 24 monthly repayments commencing today. If the effective annual interest (EAR) rate is 19.5% what is the amount of the monthly repayment? (answer do not include $ sign; show cents eg 100.00) Answer: A 1 Loan 2 Beginning-of-month repayment 3 Interest Rate, i 4 Months, n 5 Amount of Loan 24 $1,500

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APR C7 1 2 RATE 3 NPER 4 PV 5 FV 6 7 8 TYPE PMT A EAR11... View the full answer