Case 6: Shadees Dealer Objective: Financial Functions "Big Al" Shadee is well known for his willingness to give all his customers special treatment when it comes to financing his quality used vehicles. Make the following calculations for these four customers.

1. Bob is interested in buying a 2016 Honda Civic. The price of the car is $16,999, and the interest rate is 4.99%. Bob wants to get a loan for five years and wants to determine the monthly payment of this car.

2. Renita is interested in buying a 2015 Nissan Sentra. The price of this car is $13,090, and the interest rate is 6.25%. Renita wants to get a loan for 3 years and wants to determine the quarterly payment of this car.

3. Hong wants to buy a car and does not care too much about the Make and Model. Her main concern is to buy a car that fits his budget. She can make a monthly payment of $380 for 5 years. Assume the interest rate is 5%, what is the biggest loan that Hongs can afford?

4. Ismail has set his sights on the latest luxury model EV. It is priced at $105,000. At Shadees Dealers EVs have a special rate of 4.25%. Ismail gets $500 as his share of a rental property his family owns, and he thinks he can put this money towards his car payments as long as needed. Help Ismail figure out how long he will need to make monthly payments if he buys this car.

5. Sheela is highly organized about her finances. She walks into Shadees knowing she needs to borrow $25,000; she can pay $400 per month for the next 6 years and wants to check what rate she can get. Based on your excel knowledge what is the highest annual rate Sheela should be willing to accept?

Use Financial Functions to answer these questions. Please present each customers calculations clearly in a separate labeled set of cells. For each customer I should be able to see the assumptions separately in their own cells and then those being appropriately referenced into the financial function. If I need to find the assumptions by clicking on the financial function formula, points will be deducted. using excel, which functions do I use