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You just graduated college with your Bachelors Degree and accepted a job offer at your dream company. You decided to celebrate by purchasing a

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You just graduated college with your Bachelors Degree and accepted a job offer at your dream company. You decided to celebrate by purchasing a Tesla Model S (see picture above) for $74,900. You have a 720 credit score, therefore you were able to get a 4% interest rate on a 5 year loan. You will be making monthly payments. Using Excel, prepare a professional amortization schedule for the entire 5 years. It must include the payment and the total amount of interest you will pay by month over the 5 years. (Hint: interest rates are annual, you must convert them to monthly and the periods must be in months, for example, how many months are in 5 years). The Excel cells must contain formulas when appropriate, I recommend cell referencing, and using both relative and absolute. Use the PMT function for the payment. DO NOT use the PPMT or the IPMT functions.

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