Question: We are meant to use the rate function please 6. Dwight Schrute is planning to make some additions to the bed and breakfast he runs,

Schrute is planning to make some additions to the bed and breakfast We are meant to use the rate function please

6. Dwight Schrute is planning to make some additions to the bed and breakfast he runs, Schrute Farms. Jim Halpert has offered Dwight a loan to make the planned additions. Jim has told Dwight that he has two choices in his loan offerings. In the first loan scenario he would loan Dwight $5,000 if he pays Jim $13,000 in 6 years. In the second scenario Jim would allow Dwight 9 years to repay the loan if he repays Jim $15,000. Enter a function in E5 to calculate the interest rate for the first loan offer from Jim. Copy this function to cell E6. Current Duration Jim's Loan Offers Loan 1 Loan 2 Payout $13,000.00 $15,000.00 7 Value $5,000.00 $5,000.00 10

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