IN EXCEL:

Problem 2 (25 points) Assume that you will graduate in 2 years from today and after graduation, you are planning to purchase a new car for $50,000. For the next two years, you will save $250 each month for the down payment and your annual rate of return is 2%. After you have your down payment, you will apply for a car loan to finance the rest of the purchase price. Your bank offers a loan with monthly payments at 4% APR with a term of 36 months. Alternatively, a credit union has a promotional APR of 3% for new customers with a loan term of 48 months. Build amortization tables of both loan alternatives and calculate total interest paid in each loan.