Question: please answer the following using Excel 16. If you can only afford a $650 monthly car payment, what is the maximum amount you can spend

please answer the following using Excel

16. If you can only afford a $650 monthly car payment, what is the maximum amount you can spend on a car if you go with Bank of America for your auto loan (60-month, 5% APR (monthly compounding)? 17. What is the present value of the following cash flows if APR is 12% (compounding quarterly)? Year Cash Flow 10,000 11,000 12,000 5,000

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