If you took $75,000 from the bank as a loan at 6% interest per year and...
If you took $75,000 from the bank as a loan at 6% interest per year and paid amounts back as shown in the table below, how much will you still owe at the end of 8 years? see cash flow below
Using excel formula which of the following answers would it be, please show work.......
|
$42,320 |
||
|
$48,765 |
||
|
$56,876 |
||
|
$62,765 |
| Year | Cash Flow |
| 0 | ($75,000) |
| 1 | $0 |
| 2 | $2,500 |
| 3 | $45,000 |
| 4 | $2,500 |
| 5 | $1,500 |
| 6 | $0 |
| 7 | $3,500 |
| 8 | $4,800 |
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If you took $75,000 from the bank as a loan at 6% interest per
year and...
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