ENGINEERING FUNDAMENTALS
ENGINEERING FUNDAMENTALS
6th Edition
ISBN: 9781337705011
Author: MOAVENI
Publisher: CENGAGE L
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Chapter 14, Problem 17P
To determine

Using Excel, create a table to look up monthly payments on a car loan for a period of five years.

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What is the annual interest rate if a simple interest loan of $10,000 for 4 years charges a total of $2,800 interest? The loan is repaid with a single payment at the end of year 4 Select one: a. cannot be determined from the information given b. 7% c. 28% d. i such that 12800= 10000(F/P,i,4)
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