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Please help with formulas to check my work i already did. A. You financed a 5 -year loan for $35,500 and were charged 11% interest
Please help with formulas to check my work i already did.
A. You financed a 5 -year loan for $35,500 and were charged 11% interest with a 10% down payment. Calculate the amount financed, the finance charge, and the monthly payment. \begin{tabular}{|l|r|} \hline Loan Amount & \\ \hline Interest Rate & \\ \hline Down Payment Percent & \\ \hline Years for Loan & \\ \hline Amount Financed & \\ \hline Finance Charge & \\ \hline Monthly Payment & \\ \hline & \\ \hline Directions: \\ a. Enter a formula in Cell B8 to calculate the Amount Financed. \\ b. Enter a formula in Cell B9 to calculate the Finance Charge. \\ c. Enter a formula in Cell B10 to calculate the Monthly Payment. \\ d. Format dollar amounts for Currency, 2 decimal places, and \$. \\ \hline \multicolumn{2}{|}{} \\ \hline B. You have decided to pay off the loan after 30 months. You want to know the \\ amount of finance charge refund. Calculate the finance charge refund, the \\ balance remaining, and the loan payoff. \\ \hline Number of Payments & \\ \hline Payments Remaining \\ \hline Sum of Digits Payments Remaining \\ \hline Sum of Digits Total Payments \\ \hline Finance Charge Refund \\ \hline Balance Remaining \\ \hline Loan Payoff \\ \hline \end{tabular}Step by Step Solution
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