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Answers by Russell R.

interest problem (answer)

Using Excel, we can use the Future Value "FV" formula.. Rate... devide annual rate by 12 periods Nper... multiply by 12 periods Pmt... as a negative since cash outflow Type... 1 if payments are in the beginning of the month; skip if at the end   The result...

I agree with the end result of both Geovanny and Paul. Although I think Geovanny's answer was written in a more complex matter than a novice can easily understand (the multiplication part).. i could be wrong :) I'd go this way in fewer steps (maybe I'm over-simplifying): 4x-(2-3x)-5 -->...