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Please answer using formulas in Excel so I can see how you used Excel You have decided to buy a new car now and your

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Please answer using formulas in Excel so I can see how you used Excel

You have decided to buy a new car now and your main criteria is total cost over the next 3 years. You have taken Eng Econ, so you decide to do an NPV Analysis. You have two options which are leasing and financing the car What is NPV of each option? Which option is the best option if you want to minimize the cost of your new car? Assume you crive 20,000 miles each year. Also, assume that if you drive more than 15,000 miles, the lease company charges you at the end of that year. Assue that your monthly rate is 0.22%. Note the 36 payments start from month 0 The better option month Net Cash Monthly paymentiat the beginning of each month) $320 nsurance Pay at the beginning of each month) $70 Salvage value $7,500

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