You borrow a ten-year loan of $1,500,000. The annual interest rate is 13% that to be...

You borrow a ten-year loan of $1,500,000. The annual interest rate is 13% that to be repaid every 2 weeks. Assume 52 weeks a year. List the numerical answers and EXCEL formulas of payment, interest, principal paid and end balance of 115th periodic payment in the table provided.

Payment	Interest	Principal	End Balance (Period 115)
(Numerical Answer)	(Numerical Answer)	(Numerical Answer)	(Numerical Answer)
(EXCEL Formula)	(EXCEL Formula)	(EXCEL Formula)	(EXCEL Formula)

Expert Solution

End Balance of 115th Payment = $1,050,858.96

jeff jeffy answered 1 year ago

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