Reply: 1
From: Owen .
Use the PMT function in Excel.
PMT(rate,nper,pv,fv,type)
rate = 7%/52 (weekly interest rate)
nper = 52*2 (number of payments * 2 years)
pv = -150000 (present value of loan)
fv = -70000 (future value of loan)
type = 0 (payment at the end of the period)
The answer is...