SHOW THE FORUMLAS IN EXCEL PLEASE "3. Loan Amortization (25 points) When you go buy a car you know the full value of the
Posted: Sun Jul 10, 2022 10:10 am
SHOW THE FORUMLAS IN EXCEL PLEASE
"3. Loan Amortization (25 points) When you go buy a car you knowthe full value of the car. Most of us need a loan to buy the car.The typical length of a car loan is 6 years. (1) If the bankapproves you for an annual interest rate of 7% on your loan, howmuch would you pay each month for a $25,000 car, given you put$5,000 as the down payment? Assume that the first payment is 1month from now. (10 points) (2) Set up a data table that examinesthe sensitivity of monthly payment with respect to the annualdiscount rate varying from 4% to 10% (in 2% increments) and thelength of the loans varying from 3 years to 9 years (in 2 yearincrements). (15 points) "
"3. Loan Amortization (25 points) When you go buy a car you knowthe full value of the car. Most of us need a loan to buy the car.The typical length of a car loan is 6 years. (1) If the bankapproves you for an annual interest rate of 7% on your loan, howmuch would you pay each month for a $25,000 car, given you put$5,000 as the down payment? Assume that the first payment is 1month from now. (10 points) (2) Set up a data table that examinesthe sensitivity of monthly payment with respect to the annualdiscount rate varying from 4% to 10% (in 2% increments) and thelength of the loans varying from 3 years to 9 years (in 2 yearincrements). (15 points) "