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Solveee all of the following problems with Excel. Please use formulas in excel to solve. (2) (10 pts)

(a) Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month.

1. What initial principal will this repay?

(b) Assume annual car payments of $6000 for 4 years and an interest rate of 9% per year.

1. What initial principal will this repay?

(c) Assume monthly car payments of $500 per month for 4 years and an interest rate of 7% per

year.

Solve all of the following problems with Excel. Please use formulas in excel to solve. (2) (10 p15) (a) Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month. 1. What initial principal will this repay? (b) Assume annual car payments of $6000 for 4 years and an interest rate of 9% per year. 1. What initial principal will this repay? (0) Assume monthly car payments of $500 per month for 4 years and an interest rate of 7% per year. 1. What initial principal will this repay? 2. Prepare a loan payment schedule showing the payments and interest for the life of the loan