(EAIR in Loans) You're considering buying a new top of the line luxury car. The car is listed at $99,000. The dealer has offered you two alternatives for purchasing the car:

- 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 price 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 installments over 36 months.

Alternatively, your local bank is willing to give you a car loan at an annual interest rate of 10%, compounded monthly (10%/12 per month) to repaid over 3 years. Decide how to finance the car Bank loan, the zero-interest loan with the dealer, or cash payment. (Provide work done on excel to explain your reasoning).