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Use the PMT function in Excel to compute the monthly payment on a car each month if you borrowed [tex]$7700 at an annual interest rate of 4.73% over 4 years, where the interest is compounded monthly. Hint: The PMT (Payment) function is entered in Excel as =PMT(Rate, Nper, Pv, Fv, Type). Fv and Type are not necessary. Ignore them. Enter the amount of your monthly payment below. Do not include the dollar sign ($[/tex]). ||| Use the PMT function in Excel to compute the monthly payment on a car each month if you borrowed [tex]$7700 at an annual interest rate of 4.73% over 4 years, where the interest is compounded monthly. Hint: The PMT (Payment) function is entered in Excel as =PMT(Rate, Nper, Pv, Fv, Type). Fv and Type are not necessary. Ignore them. Enter the amount of your monthly payment below. Do not include the dollar sign ($[/tex]). |||
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