The blake car dealership would like you to build a car purchase and financing model. They have created a basic format as shown in the car finance spreadsheet. Variable Inputs include base price, additional equipment, trade-in allowance and amount owed on the trade-in vehicle. Tax is 3% of the purchase cost or $300, whichever is less. Fixed inputs are document fee ($399) and title fee ($69) The length of financing can vary from 3-6 years. APR depends on the purchasers FICO score (as shown on the included table). Do not use cell names or range names. Hints: pmt, vlookup, if Complete the model for Acme. Use the model to calculate the monthly payment for John, who has a trade-in worth $10,660 that he still owes $8,600 and he wants to apply toward the purchase of a new car with a base price of 20,000 and $1,550 worth of accessories. He has a FICO score of 670 and wants to finance the car over 5 years. Upload your model, showing Johns case as inputs.

Used Vehicle Credit Trade in allowance Balance Owed Net allowance Amount to be Financed Base price Addt'l equip Vehicle & equip Used vehicle credit Tax Document Fee Title Fee Amount Financed Range 0 to 649 650 to 719 over 719 FICO 0 650 720 Rate 3% 2% 1% Financing FICO APR Months Monthly Payment