You just graduated college with your Bachelors Degree and accepted a job offer at your dream company. You decided to celebrate by purchasing the vehicle
You just graduated college with your Bachelors Degree and accepted a job offer at your dream company. You decided to celebrate by purchasing the vehicle of your dreams. Pictured is a Dodge Challenger HellCat see picture above for $58,995). You have a 720 credit score, therefore you were able to get a 5% 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 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, both relative and absolute.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started