Question: 5 . ( 0 - 6 pts ) Based on the values in row 6 , write an Excel function in cell C 6 to

5.(0-6 pts) Based on the values in row 6, write an Excel function in cell C 6 to calculate the annual interest rate of the loan for the Ford Windstar. (Hint: Use the RATE() function and multiply the result by the number of periods per year to get the annual interest rate. No \(\$ \) are needed since you are not copying down or across here.).=RATE ,,,0)*6.(\(0-6\mathrm{pts}\)) The salesman has told you that for only \(\$ 320\) a month and no money down you can own a Mustang. The loan has an annual interest rate of \(6.2\%\) compounded monthly and is payable over the next 4.5 years. The salesman, however, failed to mention the actual selling price of the vehicle. Write an Excel function in cell B7 to calculate the selling price (which is also the loan amount since the down payment is \(\$ 0\)) of this vehicle. (Hint: Use the PV() function here. No \(\$ \) are needed since you are not copying down or across here.).\(=P V(\quad /\),,0)7.(0-7 pts) Your great uncle Zeus has died unexpectedly and left you a bank CD in his will. The CD was purchased 10 years ago for \(\$ 12,000\) and pays \(6\%\) per year compounded annually. Write an Excel formula or function in cell J3, which can be copied down to the cells J4:J7, to determine (TRUE or FALSE) if you have enough money to purchase this car without any financing. You will not have any cell references for the financial function so just hard-code the numbers for it.(Hint: Use the FV() function here and check its result to see if it is greater than or equal to the selling price for each vehicle. Remember to check if you need a \$ in one or more of the numbers in the cells used since you are copying this down.).\(=F V(\),,0.
5 . ( 0 - 6 pts ) Based on the values in row 6 ,

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