Problem 23. Can an EXCEL formula be use to solve this problem, if so what is the formula? Show all work.

20. (Non-annual annuity) bought Just bougnt is first payment Timothy Just balance with a $35,000 loan from the automobile deal he decides start the payable monthly years. What will be his monthly payments? If to on day what will be 5 thereafter? he borrowed the 1, his monthly payments 21. annuity) Jasmine just bought a car for with a for 3.6% annual compounded a balance with a $30,000 loan from the automobile dealer The loan is decides to start the first payable monthly over 3 years. What will be her monthly payments? If he on day 1, what will be his monthly payments thereafter? he 22. (Non-annual annuity) Stan wants to plan for his retirement in 30 years. During his 30 year retirement spend $5,000 monthly, while earning 10% in his retirement funds. He will save monthly in his 401 retirement fund with his employer over the next 30 years where he plans to earn 12% annually. How much must he save monthly, beginning at the end of this month to meet objectives. retiremen he 23. annuity) Stan wants to plan for his retirement in 10 years. During his 30 year in his plans to spend $5,000 monthly, earning 10% in his retirement funds. will save monthly much retirement fund with his employer over the next 30 years where he plans to earn 12% annually. How must he save monthly, beginning at the end of this month to meet his objectives. How will his results change if he begins savings at the beginning of the current month? contract where she will earn $250 24. (Growth annuity) Maureen has just signed a professional basketball 10 years. She plans to save 20% of h the first year and will receive a 10% annual increase every year for much will she ha salary year in a mutual fund where she expects to earn 15% annually. How e n her savings after lo years? where he w Michael has ust signed a professional basketball contract earn $2,500,000