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please give the excel formula 3) You borrow $35,000 to purchase a car. The loan has a term of 5 years and an APR of

please give the excel formula image text in transcribed
3) You borrow $35,000 to purchase a car. The loan has a term of 5 years and an APR of 3% with monthly payments. The first payment is due one month from today. a) Write a formula that tells you the monthly payment. What is the payment amount? b) Suppose that you sell the car immediately after making your 24" monthly payment. Assuming you are current on your payments, how much will you need to pay the bank to settle the loan at that time

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