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With Excel formulas please You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an
With Excel formulas please
You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an APR of 4.7 percent for a 60-month loan to buy the car. What will your monthly payments be? What is the effective annual rate on this loan? Input area: Cost of car APR Number of months Compounding periods per year $84,500 4.70% 60 12 (Use cells A6 to 89 from the given information to complete this question. Your payment should be a positive value.) Output area: Payment Effective interest rate Step by Step Solution
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