Please Show in Excel with formula 2. John Paul...
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Finance
Please Show in Excel with formula
2. John Paul has $18,000 invested in a financial asset that promises to pay 3% per year. John Paul wants to buy a house in exactly 5 years for $200,000 and will use his investment as a down payment. John Paul will borrow the full amount to purchase the house and expects to pay an 8% mortgage interest rate. Determine the monthly payment on the loan if the mortgage term is 30 years
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