Question: Use formula to solve this problem (No Excel Please) Question 7 Quion 15 Common information for 6 and 7 Andrew borrows 360,000 at i-06. He

Use formula to solve this problem (No Excel Please)

Question 7 Quion 15 Common information for 6 and 7 Andrew borrows 360,000 at i-06. He repays this loan by paying off only the interest due at the end of each year to the lender and depositing a level amount Y at the end of each year into a sinking fund account offering 8% APY so as to accumulate the full balance of the loan amount in the sinking fund at the end of 20 years. Find the AER that Andrew has ended up paying on his loan A.0223 B..0373 G..0313 D. The answer does not appear here E.05

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