Question: Using Excel spreadsheet AE0412-2) A company borrows $8000 at a nominal interest rate of 12% per year compounded monthly. The company wants to repay the

Using Excel spreadsheet

Using Excel spreadsheet AE0412-2) A company borrows $8000 at a nominal interest

AE0412-2) A company borrows $8000 at a nominal interest rate of 12% per year compounded monthly. The company wants to repay the loan in 14 equal monthly payments, with the first payment starting 1 month from now. 1) What should be the size of each payment? 2) After making 8 payments, if the company decides to pay off the remaining loan in the 9th month, how much must the company pay

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