? X Calculating annuity present values - Excel FORMULAS DATA REVIEW FILE HOME INSERT PAGE LAYOUT VIEW Sign In I % Arial 12 Paste BIU % Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Styles You want to borrow $89,000 from your local bank to buy a new sailboat. You can Clipboard Font for A A B E F H J 1 2 3 You want to borrow $89,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,850, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan? 4 5 6 6 $ $ 7 Price of sailboat Monthly payment Months for loan Months per year 89,000 1,850 60 12 00 9 10 11 12 Complete the following analysis. Do not hard code values in your calculations. 13 14 Monthly rate 15 16 APR 17 18 19 20 Sheet1 100% READY Attempt(s) Hint