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Problems & Excel Simulations - Chapter 05 A Saved Paste BIU >> A- Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles 15 Clipboard Font D14 fox A B C D EFGHI E F G H K L 1 points 1 1 2 eBook 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? Print References 4 5 6 $ 7 Cost of Car Discount rate # of years # of times compounded per year 79,500 5.8% 5 12 8 9 10 11 12 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. 13 14 15 Payment Effective interest rate 16 17 18 19