PROBLEM $4$:

Cost of a car is $$50,000.2$ plans are available for you. $10\%$ discount on sales price of the car with $60$ monthly payments financed at $9\%$ interest$/$year$.$

No discount on sales price of the car with $60$ monthly payments financed at $2\%$ interest$/$year$.$

If you believe your annual cost of capital is $9\%$ which payment plan is better?

A$.$ Assume all payments occur at the end of the month. Calculate the payment.

B$.$ Now Assume Cost of a car is $$30,000$ with same two plans available and your annual cost of capital continues to be $9\%.$ Calculate end of the month payment.

Please solve this equation and give the exact excel formulas used