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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
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 $72,800. You have a 720 credit score, therefore you were able to get a 3% interest rate on a 7 year loan. You will be making monthly payments. Using Excel, prepare a professional amortization schedule for the entire 7 years. It must include the payment and the total amount of interest you will pay by month over the 7 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 7 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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