Question
Excel Problem Buying a car After graduation, two twin sisters Angela and Pinky each decide to treat themselves to a new car. They buy identical
Excel Problem
Buying a car After graduation, two twin sisters Angela and Pinky each decide to treat themselves to a new car. They buy identical cars costing $35,000. Pinky borrows the entire amount for her car on a 5-year loan at 5% interest. Angela pays cash for her car. What will Pinkyss monthly car payment equal? How much will Pinkys $35,000 car cost? Every time Pinky makes a car payment, Angela takes that same amount and invests it at 5.5%. By the time Pinky pays off her car, how much will Angela have saved towards the purchase of her next car?
I have finished everything with Pinky however I can not figure out how to put Angela's part of the problem into excel. Please help
Computer2 - Excel AutoSave Of H e File Home Insert Page Layout Formulas X Cut Calibri - 11 - A [Copy - Paste BI U - - *- A - Format Painter Clipboard Data Review === Din 3 View Help Acrobat O Search ab Wrap Text Merge & Center - $ - % 9 de eo General Bad Good Neutral Calculation EX Normal Conditional Format as Check Cell Formatting Table AutoSum T Fill Clear Explanatory... Input Linked Cell Note Insert Delete Format Font Alignment *7 Number Styles Cells Ed A B E H Car Cost $ Amount Borrowed Annual Interest Loan Length in Years Amount of Periods Monthly Payment Cost of Car 100% 5% 60 $660.49 $39,629.59 Pinky 35,000 - L oroo oo Computer2 - Excel AutoSave Of H e File Home Insert Page Layout Formulas X Cut Calibri - 11 - A [Copy - Paste BI U - - *- A - Format Painter Clipboard Data Review === Din 3 View Help Acrobat O Search ab Wrap Text Merge & Center - $ - % 9 de eo General Bad Good Neutral Calculation EX Normal Conditional Format as Check Cell Formatting Table AutoSum T Fill Clear Explanatory... Input Linked Cell Note Insert Delete Format Font Alignment *7 Number Styles Cells Ed A B E H Car Cost $ Amount Borrowed Annual Interest Loan Length in Years Amount of Periods Monthly Payment Cost of Car 100% 5% 60 $660.49 $39,629.59 Pinky 35,000 - L oroo ooStep by Step Solution
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