Calibri 14 VAA 2 Wrap Text Past General BIU- 0.A. Merge & Center - $ . % 4.000 00 +0 Clipboard Font Alignment Conditional Format as Cell Formatting Table Styles Styles Number C3 fr F G QUESTION 3 $50,000.00 $10,000.00 $1,000.00 $300.00 CELL PHONE COST DOWN PAYMENT LOAN AMOUNT INTREST RATE YEARS 1 NET MONTHLY PAYMENT 74% D 1 QUESTION 1 QUESTION 2 2 3 HOUSE COST $500,000.00 ICAR COST 4 DOWN PAYMENT $150,000 DOWN PAYMENT 5 LOAN AMOUNT LOAN AMOUNT 6 INTREST RATE 5% INTREST RATE 7 YEARS 30 YEARS 10 8 NET MONTHLY PAYMENT NET MONTHLY PAYMENT 9 10 QUESTION 1 11 USE SUBTRACT FORMULA IN B5 CELL TO FIND DIFFERENCE 12 USE MULTIPLY FORMULA IN CELL B7 TO CONVERT 30 YEARS INTO MONTHS 13 USE -PMT FORMULA IN CELL B8, E8 AND HS TO CALCULATE NET MONTHLY PAYMENT 14 15 NOW SOLVE QUESTION 2 AND QUESTION 3.APPLY ALL NECESSARY FORMULAS 16 HINT: USE SAME PMT FORMULAS FOR QUESTION 2 AND QUESTION 3 17 3% 19 20 21 26