→ Problem 2 After graduation, you just got hired by an engineering company and you were planning to take a loan in order

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→ Problem 2 After graduation, you just got hired by an engineering company and you were planning to take a loan in order

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Problem 2 After Graduation You Just Got Hired By An Engineering Company And You Were Planning To Take A Loan In Order 1
Problem 2 After Graduation You Just Got Hired By An Engineering Company And You Were Planning To Take A Loan In Order 1 (20.39 KiB) Viewed 16 times
→ Problem 2 After graduation, you just got hired by an engineering company and you were planning to take a loan in order to purchase a new car. Let's assume that the bank is willing to offer you a personal loan with an annual interest rate of 7% compounded yearly. The car price is 25,739 JD and you are capable to pay 5,400 JD per year. After how many years you will be able to pay back the loan with the accumulated interest (use a spreadsheet to answer this question) and draw the cash flow diagram?
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