(SOLVED) A loan should be fully repaid in 60 monthly installments of $5 million.
Discipline: Finance
Type of Paper: Question-Answer
Academic Level: Undergrad. (yrs 1-2)
Paper Format: APA
Pages: 1
Words: 100
Question
FINANCIAL MATHEMATICS
A loan should be fully repaid in 60 monthly installments of $5 million.
If the loan is $250 million, what will be the outstanding principal at end of first year?
Please provide and explain how to calculate and get the answer exactly like this, using excel!
