Payable over five years with monthly payments

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A loan of 100,000 is payable over five years with monthly payments of 60,000 commencing one month after the inception date. The loan repayment is 2,000 per month and the nominal rate 10 per cent. How much capital remains at the end of five years? build a spreadsheet to resolve this problem.

If the future value is 5,000 what does the loan payment need to be? Build a spreadsheet using the functions demonstrated in this chapter to solve both problems

Reference no: EM13920190

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