Instructions Draw Cash flow diagrams Set up and solve problem in Excel If a person borrows…

Instructions
Draw Cash flow diagrams
Set up and solve problem in Excel
If a person borrows $8000 from her bank at an interest rate of
12% per year for three years, how much must she repay at that time
(end of year 3) if:
a) the interest is compounded annually
b) the interest is compounded quarterly
Suppose the bank wanted three equal repayments at the
end of each year; Assume interest is compounded annually. What
would the repayment amounts be?