Xavier just financed $24,000 of the total cost of his new car. The interest rate on the
Question:
Required:
a. Using the PMT function in Excel, compute the monthly payments to repay the loan.
b. Suppose Xavier could only afford to make payments of $350 per month. What is the maximum amount he could finance from loans? Round your answer down to the nearest $100. Use the PV function in Excel.
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a Using the PMT function we have 46399 PMT006126024000 We cannot calculate this number fr...View the full answer
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Related Book For 
Managerial Accounting
ISBN: 978-1118385388
2nd edition
Authors: Ramji Balakrishnan, Konduru Sivaramakrishnan, Geoff B. Sprinkle
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