Your friends were excited to hear you have chosen accounting for a career. They have several practical questions regarding money and interest (time value of money). Please assist your friends by answering their respective questions. For each question: A. Estimate without using a text table, business calculator, or EXCEL formula functions, etc. B. Document the "step-by-step" detail showing them how you solved the question. NOTE: To solve use one of the following: EXCEL formula functions => i.e. =pmt(rate,nper,pv.lfv],[type]) Business calculator Text tables (not recommended). Include all the detail steps for whichever tool you choose. For example, if using EXCEL show all formulas (copy so reader could duplicate your work). If using a business calculator, in detail in proper order show numbers and buttons you input to obtain your answer. C. Provide a one to three sentence written explanation to your friend explaining the basic time value of money concept(s) impacting the solution. Friend #1 - Car Loan - What will by my monthly payment if I purchase a used car for $8,500? The dealer has offered to finance the purchase (car loan) over four years at 5%. No down payment is required. A B