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You want to buy a 2020 Ferrari Pista Spider. You've found one at a dealer near you for $714,500. You have $70,000 for a down

You want to buy a 2020 Ferrari Pista Spider. You've found one at a dealer near you for $714,500. You have $70,000 for a down payment. The dealer says he'll sell you the car if you give him the $70,000 now and pay him $800,000 in three years. What is the interest rate on this loan? Use the Principles of Spreadsheet Design to set up and solve this

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