Question: KBS Calculating loan payments - Excel ? 2 El FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In X Calibri - 11 R

KBS Calculating loan payments - Excel ? 2 El FILE HOME

KBS Calculating loan payments - Excel ? 2 El FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In X Calibri - 11 R ..!! Paste BIU % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font A1 X fx A B D J K L 1 2 3 You want to buy a new sports coupe for $79,500, and the finance office at the dealership has quoted you an APR of 5.8 percent for a 60-month loan to buy the car. What will your monthly payments be? What is the effective annual rate on this loan? 4 5 6 $ 7 Cost of Car Discount rate # of years # of times compounded per year 79,500 5.8% 5 12 8 9 9 10 11 12 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. 13 14 Payment 15 16 Effective interest rate 17

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