Question: Use excel function to solve the problem show your work If you borrowed $130,000 from a bank for a period of 24 years and paid

Use excel function to solve the problem show your work

  1. If you borrowed $130,000 from a bank for a period of 24 years and paid compound interest at the rate of 6% per year, what will the total interest that you will end up paying?

  1. If you borrow $60,000 from your dad for college and you agree to pay him back at 10% interest per year in monthly installments of $1,650 each month-end after you find a job, how many months will it take you to pay off the loan. Round the answer in months to the next higher digit.

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