Question: What would the Excel formula for this be? A company borrowed money from a local bank. The note the company signed requires five annual installment

What would the Excel formula for this be?

A company borrowed money from a local bank. The note the company

A company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 beginning one year from today. The interest rate on the note is 9%. What amount did the company borrow? Amount of each installment payment Interest rate Number of years 10 11 12 13 14 15 Amount borrowed $10,000 9% $42,397.20

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