Can you solve using excel formulas please. If you have 7% APR loan for 25, 000, your monthly payments are 300. How many months will it take to pay off loan if the bank changes monthly payments to 250 (same interest rate)?
Can you solve using excel formulas please. If you have 7% APR loan for 25, 000, your monthly payments are 300. How many months will it take to pay off loan if the bank changes monthly payments to 250 (same interest rate)?
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 14P
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![Can
you I solve using excel formulas please. If you have
7% APR loan for 25,000, your monthly payments are
300. How many months will it take to pay off loan if the
bank changes monthly payments to 250 (same interest
rate)?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb162b59c-c05f-45ea-bf94-c5eb9b85e81e%2F012f3810-dd27-4a11-a4c3-314b4f4f5696%2Fnh4dmvb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Can
you I solve using excel formulas please. If you have
7% APR loan for 25,000, your monthly payments are
300. How many months will it take to pay off loan if the
bank changes monthly payments to 250 (same interest
rate)?
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