EXCEL SPREADSHEET

you buy a used car for $10,000. you made a downpayment of $1,000 and finaced the rest at an APR of 9% over 3 years to be paid monthly. What is the monthly payment required for this loan.

Once you have found the monthly payment, enter it and the initial balance of the loan into the provided excel spreadsheet to verify that the balance of your loan goes to $0 at the end of 3 years. Show on the Excel spreadsheet where you have proven the 0 balance.

Please show work. thank you

Chapter 4 Project Part 4 - Loan Payments, Credit Cards and Mortgages For Part 4 of the Chapter 4 Project, answer the following problem on this paper and enter your result and initial balance into the provided Excel spreadsheet. You buy a used car for $10,000. You made a down-payment of S1000 and financed the rest at an APR of 9% over 3 years to be paid monthly. Use the Loan Payment Formula (Installment Loans) to determine the monthly payment required for this loan. Show your work below. Once you have found the monthly payment, enter it and the initial balance of the loan into the provided Excel spreadsheet to verify that the balance of your loan goes to S0 (or very close to So) at the end of 3 years. Show on the Excel spreadsheet (by writing on it by hand or by typing in it) where you have proven the 0 (or close to 0) balance. Pr APR PMT= [ 1-11 0e and