Please Use Excel and show formula. PV = Loan - Cashback

Part 3, Let's buy a car? You're looking to buy a fully loaded 2018 Kia Optima EX with sunroof and leather seats at a price of $27,000. Being a poor college student, you have cash to pay taxes, title, license & fees but your parents offer to give you 10% of the price, $2700, as a down payment and you need to finance the remainder of $24,300. You smartly researched your finance options and got preapproval at a 3.49% APR for 60 months on your own so you're not at the mercy at depending on financing from the car dealership. Kia is offering 0% APR financing with $1500 cash back or $4000 cash back. They are practically giving these cars away! The cash back amounts underboth options would be used as an additionaldown payment reducing the amount that you need to finance (borrow). You would use your 3.49% APR pre-approved financing if you elect the $4000 cash back option. Answer the following questions. what would beyour monthly carloa n payment underthe Kia's 0% APR financingoffer with $1500 (assume a 60-month loan term)? What would be your monthly car loan payment under the Kia's $4000 cash back offer and your 3.49% APR pre-approved financing (assume a 60-month loan term)? At what APR would you be indifferent between the two offers? In other words, at what APR would you have the same monthly payment (assuming a 60-month loan term) for the $4000 cash back offer as you would with the 0% APR financing offer with $1500 cash back? 1, 2. 3. Let's assume yougo with the offer in question #2. Construct a n amortization schedule for the loan for all 60 monthly payments (see section 5-18 of the textbook). What is your loan balance after 36 months? 4. Now let's assume you were willingto make a monthly car loan payment of $450. Re-do your amortization schedule from question#4 with this monthly payment. How long will it take to pay off the loan with the $450 monthly payment? 5