(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!