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Use excel To purchase a car, you take out a 5 - year auto loan with monthly payments. The total purchase price of the car
Use excel
To purchase a car, you take out a year auto loan with monthly payments. The total purchase price of the car is $ and the down payment equals $ The annual interest rate APR is
A What is the monthly payment required by this auto loan? Points
B How much of each month's payment goes to paying interest and how much to reducing the principal balance? Points
C What is the total amount of interest you pay over the life of the auto loan? Points
D Create a Data Table to examine the monthly payment under various annual interest rates. Points
tableAnnual Interest Rate,
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