Question: Use the PMT function in Excel to compute the monthly payment on a home each month if you borrowed $630,000 at an annual interest of

Use the PMT function in Excel to compute the monthly payment on a home each month if you borrowed $630,000 at an annual interest of 4.04% over 20 years, where the interest is compounded monthly. Hint: The PMT (payment) function is entered in Excel as =PMT(Rate, Nper, Pv, Fv, Type). Fv and Type are not necessary. Ignore them. Enter the amount of your monthly payment below. Do not include the dollar sign ($)

2. if you pay $26.53 each month for your cell phone for two years, how much is the total cost of your cell phone? Round to the nearest hundredth

3. Use Excel to calculate the total interest on a cell phone for $1,048 at 5.07% interest over two years, making monthly payments. Round your answer to the nearest hundredth. Enter your answer as a positive number.

4. Ella has R$3390 (3390 Brazilian reais) that she would like to convert to Mexican pesos (Mex$). Suppose the current conversion rate is R$1=Mex$5.61. How much money will she have in pesos? Round your answer to the nearest whole number.

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