Question 5 options: You want to calculate the maximum loan that can be paid off with an interest rate of 2.5% over 12 payments of $1000.00 each.

Question 5 options:

You want to calculate the maximum loan that can be paid off with an interest rate of 2.5% over 12 payments of $1000.00 each. 

Use Goal Seek and the PMT formula to solve for the maximum loan, x, to two decimal places:

=PMT(0.025,12,-x,0)