I need help with solving this question. I am using excel to solve this problem and not getting the close answer.
Posted: Sun Jul 03, 2022 6:56 am
I need help with solving this question. I am using excel to solve this problem and not getting the close answer.
(5 points) Question 6: A woman borrowed $6,500 and agreed to pay off the debt, including interest, at the end of four years. She has agreed to a simple interest rate 12%, during for the four-year period. At the end of the four-year period, she will write a check to the lender for an amount that equals the principle plus the four (4) years of accrued interest. What will be the amount of the check? $7,280 b. $3,120 c. $6,500 d $9,620
5 question 6 7 8 9 PV FV 11 N 12 A 13 G 14 $6,500.00 ($7,316) 3%
- I Need Help With Solving This Question I Am Using Excel To Solve This Problem And Not Getting The Close Answer 1 (170.15 KiB) Viewed 14 times
- I Need Help With Solving This Question I Am Using Excel To Solve This Problem And Not Getting The Close Answer 2 (192.29 KiB) Viewed 14 times
5 question 6 7 8 9 PV FV 11 N 12 A 13 G 14 $6,500.00 ($7,316) 3%