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Create an Excel spreadsheet to enable users to calculate can compare 3 car loans. The objective...

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Finance

Create an Excel spreadsheet to enable users to calculate cancompare 3 car loans. The objective is to see the Total Amount Paidfor a given loan amount, with different interest rates and a numberof finance months. Allow the user to enter car price and downpayment amount in cells that will be used by all 3 loan options.Add charts to compare the three loans visually. Make sure tocompare monthly, months, as well as the total cost of the callafter all payment, is done.

Answer & Explanation Solved by verified expert
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The 3 car loans that I have considered below areLoan 1 Loan amount is 100000 with 0 down payment and paymentto be made in 24 months with interest rate of 12Here monthly payment will be PMT1212 24 90000 470735 per monthLoan 2 Loan amount is 100000 with 0 down payment and paymentto be made in 12 months with interest rate of 12Here monthly payment will be PMT1212 12 100000 888488 per monthLoan 3 Loan amount is 100000 with 0 down payment and paymentis made in 18 months with interest rate of 18Here monthly payment will be PMT1812 18 100000 638058 per monthThe excel for all the 3 options    See Answer
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Create an Excel spreadsheet to enable users to calculate cancompare 3 car loans. The objective is to see the Total Amount Paidfor a given loan amount, with different interest rates and a numberof finance months. Allow the user to enter car price and downpayment amount in cells that will be used by all 3 loan options.Add charts to compare the three loans visually. Make sure tocompare monthly, months, as well as the total cost of the callafter all payment, is done.

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