Please use excel where possible

24. Jeff buys a used car by paying $1,500 down and $182.50 a month for 3 years. What was the cash price of the car, if the interest rate on the loan is 18%, compounded monthly (r12 = 18%).? a$8,070.00 b) $6,570.00 c) $5,048.08 d) $6,548.08 25. You are evaluating a loan that has to be repaid by monthly payments for five years. Given below is the amortization table which shows the payments for the first three months. Beginning Month Monthly Interest Principal Ending Balance Payment Paid Repaid Balance 1 $50,000.00 $1,037.92 $375.00 $662.92 $49,337.08 2 $49,337.08 $1,037.92 $370.03 $667.89 $48,669.19 3 $48,669.19 $1,037.92 $365.02 $672.90 $47,996.29 How much of the principal needs to be repaid in the fourth month? a) $1,037.92 b) $677.95 c) $359.97 d) $678.31