Please include Excel formulas BEFG5 Downtown Internet Café is planning to buy a minivan for delivery and pick up. The price of the vehicle is $25,000.6To purchase this minivan, they have $3,000, as a down payment, the dealer has given them a discount equal to 5%7of the full price of the vehicle, and for the rest, they need to apply for a loan in order to buy the vehicle.8 Using the following figures, calculate the monthly payment for the above loan.9What is their bi-weekly payment, if they want to explore that option?1011 Price of the Vehicle:12 Down Payment:13 Dealer's Special Discount:14Annual Interest Rate:15 Term of the Loan (Year):161718Monthly Payment:Bi-Weekly Payment:78°FMostly sunny$ 25,000.00$3,000.00= First Q First Q Goal Seek Minivan Loan +F2Calculation Mode: Automatic Workbook StatisticsÖ-5%4.90%5To be computedTo be computedF3-Ö+F4DF5F6aHO

Price of the vehicle 25,000 Down payment 3,000 Dealer discount 5.00% Annual interest rate…

WA Internet Cafe is planning to buy a minivan for delivery and pick up. The price of the vehicle is $25,000 To purchase this minivan, they have $3,000, as a down payment, the dealer has given them a discount equal to 5- of the full price of the vehicle, and for the rest, they need to apply for a loan in order to buy the vehicle. Using the following figures, calculate the monthly payment for the above loan. What is their bi-weekly payment, if they want to explore that option? Price of the Vehicle: Down Payment: Dealer's Special Discount: Annual Interest Rate: Term of the Loan (Year): $ 25,000.00 $ 3,000.00 5% 4.90% 5

WA Internet Cafe is planning to buy a minivan for delivery and pick up. The price of the vehicle is $25,000 To purchase this minivan, they have $3,000, as a down payment, the dealer has given them a discount equal to 5- of the full price of the vehicle, and for the rest, they need to apply for a loan in order to buy the vehicle. Using the following figures, calculate the monthly payment for the above loan. What is their bi-weekly payment, if they want to explore that option? Price of the Vehicle: Down Payment: Dealer's Special Discount: Annual Interest Rate: Term of the Loan (Year): $ 25,000.00 $ 3,000.00 5% 4.90% 5

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Suppose that you decide to buy a car for $25,635, including taxes and license fees. You saved $6000 for a down payment and can get a four-year car loan at 6.53%. Use PMT= total interest for the loan. tbook The monthly payment is $
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Suppose that you decide to buy a car for $26,635, including taxes and license fees. You saved $7000 for a down payment and can get a five-year car loan at 7.71%. Use PMT= find the monthly payment and the total interest for the loan. CE to [-]
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