12. (EAIR in loans) Youre considering buying a new top- of- the- line luxury car. The cars list price is $99,000. The dealer has offered you two alternatives for purchasing thecar: You can buy the car for $90,000 in cash and get a $9,000 discount in the bargain. You can buy the car for the list of $99,000. In this case, the dealer is willing to take $39,000 as an initial payment. The remainder of $60,000 is a zero- interest loan to be paid back in equal install-ments over 36months.Alternatively, your local bank is willing to give you a car loan at an annual interest rate of 10%, compounded monthly (that is, 10%/ 12 per month).Decide how to finance the car:Bank loan or zero- interest loan with the dealer, or cash payment. Please show only how do in excel and which formulas are used.