CIS200 – Homework #1 – Simple Formulas & Functions

The loan has an annual interest rate of 6.2% compounded monthly and is payable over the next 54 months. The salesman, however, failed to mention the actual selling price of the vehicle. Write an Excel formula in cell E9 to calculate the selling price (which is also the loan amount since the down payment is $0) of this vehicle. ................
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