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Auto Finance After graduating from college and obtaining your first job, you have decided to purchase a new vehicle. Before purchasing the car, you want
Auto Finance After graduating from college and obtaining your first job, you have decided to purchase a new vehicle. Before purchasing the car, you want to create a worksheet to estimate the monthly payment based on the purchase price, APR, down payment, and years. Your monthly budget is $500 and you will use conditional logic to automatically determine if you can afford the cars you are evaluating. Open the workbook e02b1CarLoan and save it GENERAL CASE s A en as eO2b 1 Carl oan LastFirst atically enter the current date in cell A4 Starting in cell SCRATCH B12 enter a formula to calculate the down payment for each vehicle price range based on the down payment percentage listed in cell D4. Be sure to use the appropriate absolute or mixed reference and copy the formula to complete range B13:B16. Before calculating the periodic payment for each vehicle, you will need to research the current vehicle interest rates. Conduct an Internet search to determine the current interest rate for a five-year auto loan and enter the value in cell D5. In cell C12 type a function that calculates the periodic payment for the first vehicle based on the input information in range D4:D7. Be sure to use the appropriate absolute or mixed reference and copy the formula to complete range C12:C16. In column D. use an IF function to determine if the first vehicle is finan cially viable; display either Test Drive or NA based on the criteria in cell D8. Be sure to use the appropriate absolute or mixed reference and copy the formula to complete range D12:D16 Include a footer with your name on the left side, the date in the center. and the file name on the right side. Save and close the workbook. Based on your instructor's directions,. submit e02b1CarLoan_LastFirst
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