Determine the number of years it would take you to pay off

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Question: Write an Excel formula to determine the number of years it would take you to pay off a loan for the following: You are buying a Jeep for $23,500 with a $2000 down payment. The rest you are borrowing from the bank at 6.5% annual interest compounded monthly. Your monthly payments are $350.

When expressing CASH FLOW in EXCEL financial formulas - Cash out of your pocket is expressed as a (negative/positive).

Sometimes these financial functions have a "type" argument at the end of the formula

What does "type" mean? What are the different types?

Reference no: EM133479282

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Determine the number of years it would take you to pay off : Sometimes these financial functions have a "type" argument at the end of the formula What does "type" mean? What are the different types

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