Answer to Question #267686 in Excel for Favour

Question

You saw an advert for a used car that you would like to

buy.

The advert says that the dealer will give anyone a $500

trade in on his or her old vehicle.

The asking price for the car

(before trade-in) is $4,000. They will offer you a 4% interest

rate for a 3-year loan.

What is the amount you need to

finance?

Use the PMT function to determine what your

monthly payments will be. Copy the work, and then use the

Goal Seek tool to determine what the asking price of the car,

before trade-in would have to be to make a monthly payment

of $70. Show both scenarios in your worksheet. Present the

monthly payment and loan on a bar chart.

Answer 1

Dear Favour, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order