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Part 1. Create a loan amortization table (50 points) You are considering purchasing a SUV with a sticker price of $42,270 (nonnegotiable, with a 20%
Part 1. Create a loan amortization table (50 points) You are considering purchasing a SUV with a sticker price of $42,270 (nonnegotiable, with a 20% down payment required). You have cash to cover the down payment and you want to make monthly payments over five years to cover the remainder of the cost. The highest monthly payment that you can afford is $700. The credit union has agreed to loan you the money at a 4.23% annual interest rate la: Create an amortization table in Excel and label the tab "Bank PMT". Answer the following question a) What is your monthly payment, and can you afford to purchase the car? b) How much interest are you paying over the life of the loan
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