You have negotiated a price of $$9,824,$ including taxes and fees.

You have $$1,000$ cash that you can pay towards the vehicle right now, but you need to finance the rest.

Your credit union is offering a $4-$year loan with monthly payments. The interest rate is $7\mathrm{.}24\%.$

Use Excel to complete the following

$1.$What is the monthly payment for the loan?

$2.$What is the complete Excel PMT function to calculate the loan $($use values for the arguments, NOT cell references$).$

$3.$What will be the total amount you pay for the car if you finance it $($hint: should be MORE than $$9,824)?$

$4.$How much extra did it cost you to borrow money to buy the car instead of paying cash for it$?$