13. If you botrow $1823 and pay back $2,728 in three years, what annual rate of interest are you paying? Use opposite signs for PV and FV. EXCEL FUNCTION 14. How long will it take you to triple your money af 6% ? EXCEL FUNCTION 10. You agree to finance your new SUV with an auto loan of $51623. This loan will be repaid over four years with monthly payments and compounding at a 4% Annual interest rate. What will your monthly loan payment be? Assume PV to be negative so that the PMT is positive. I need the correct EXCEL FUNCTION.

Q: You purchase a basic package, 4-door sedan for your company's fleet for $18,000. The 3 year loan has…

A: Assumption: It is assumed the given situation is in monthly compounding. The question gives the…

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A:

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A: Interest rate is the rate which the customer would have to pay on the periodic payment of the…

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A: Loan Amortization: It refers to the process of paying off the loan in equal periodic payments.…

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A: Here,Loan Amount is $50,000APR is 6%Time Period is 30 years

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A: The FV of an investment refers to the combined worth of the cash flows of the investment at a…

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Effective Interest Rate

The term interest rate can be defined as the amount that is charged by the lender as a percentage on the principal amount. Interest rate which is charged annually is known as annual percentage rate.