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PLEASE CAN YOU SOLVE THIS IN EXCEL GIVING THE USED FORMULAS We contract a debt of...

PLEASE CAN YOU SOLVE THIS IN EXCEL GIVING THE USED FORMULAS

We contract a debt of $ 1000 over 1 year at 10% monthly capitalization, which will be repaid in 12 equal monthly payments. What will be the amount of each monthly payment

a) if the first one falls due one month after the loan?

b) if the first expires when the contract is signed?

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Answer #1

Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

Cell reference -

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