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E10-E2 Be Your Own Boss Blue Jean Landscaping needs to purchase new equipment to expand its operations, including lawn tractors, trailers, and a new vehicle.

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E10-E2 Be Your Own Boss Blue Jean Landscaping needs to purchase new equipment to expand its operations, including lawn tractors, trailers, and a new vehicle. The total amount needed is $65,000, and the bank has a few options to finance the loan. Open E10-E2-Expansion and save it as E10-E2-ExpansionFinancing. The three options for financing the loan are 5 months at 3.5%, 7 years at 3.25%, or 10 years at 3.0%. Insert the appropriate formulas into the range C7.C9 and then create a two-variable Data Table next to the calculations to compare the total interest paid based on changing the years and the interest rates as described. Determine which of the three options has lowest total interest and then highlight that option with an appropriate format. Then use Goal Seek to determine what interest rate you would have to negotiate to reduce total interest to $5,750. Save the file. B11 B D E F 6 H 1 a Blue Jean Landscaping Expansion Financing 2 3 4 $65,000 5 6 3.50% Loan Amount: Loan Term (Years); Interest Rate (APR): Payment: Total Payments: Total Interest: 7 8 9 10 12 13 14 15 16 17 18 19 20 2 Sheet

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