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You are interested in purchasing a $ 1 7 , 9 9 9 new car. You are weighing your options regarding down payment and payment
You are interested in purchasing a $ new car. You are weighing your options regarding down payment and payment schedule. Your credit score indicates that you can secure a loan with a interest rate for a year loan. The facts are summarized below.
Answer the questions below.
If you pay as a down payment so only need to borrow of the car price use an EXCEL formulas and functions to complete the following table assuming you make ANNUAL payments.
Payment amount:
Total repayment:
Total interest:
If you pay as a down payment so only need to borrow of the car price use an EXCEL formulas and functions to complete the following table assuming you make MONTHLY payments.
Payment amount:
Total repayment:
Total interest:
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