Canyou I solve using excel formulas please. If you have7% APR loan for 25,000, your monthly payments are300. How many months will it take to pay off loan if thebank changes monthly payments to 250 (same interestrate)?

Time, value of money refers to a concept used for evaluating the present value of an asset that will…

Answered: Can you solve using excel formulas…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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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)?