Question: What linear-gradient amount beginning in period 2 is required so that a loan of $12,000 is paid off in 8 periods using an interest rate
What linear-gradient amount beginning in period 2 is required so that a loan of $12,000 is paid off in 8 periods using an interest rate of 8.00% if the beginning loan payment one period from now is 1900? Clearly indicate the sign of the gradient in your answer.
Use the Microsoft Excel goal seek function for the answer. Thank you.
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