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How would you solve this in excel using finance functions? Rupesh wants to buy a new BMW priced at $54,000. He makes a down payment
How would you solve this in excel using finance functions?
Rupesh wants to buy a new BMW priced at $54,000. He makes a down payment of 20% of the original price. He also trades-in his old car for $10,000. (This means he sells the old car to the dealer for $10,000). For the balance, Rupesh takes a 60-month car loan at an interest rate of 3.45%. What will be the approximate payment at the end of every month?
a. $952.45 b. $485.50 c. $603.22 d. $827.90
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