--How do I solve Part A, B, and C? --\ PART 1) CALCULATE HOW MUCH COULD BE SPENT ON THIS PROJECT USING:\ PART A) A LOAN REPAYMENT TABLE USING SOLVER TO FIND THE FIRST COST.\ INTEREST IS 20% OF BEGINNING BALANCE\ PAYMENT IS FIXED\ PART B) USING THE (A/P, I, n) EQUATION GIVEN IN CLASS\ PART C) USING THE PV FUNCTION IN EXCEL

You are working on a project that will enable a product to be produced with less material. The material costs per unit are projected to change from the current value of $64.37 to $57.49. The estimated volume is 35,000 units per year. Expected life is 5 years. The company uses an interest rate of 20%. 1. Calculate how much could be spent on this project using: a. A loan repayment table using Solver to find the first cost. b. Using the (A/P,i,n) equation given in class c. Using the PV function in Excel