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Show work (excel if possible but show formulas you used in excel): If I buy a new...

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Finance

Show work (excel if possible but show formulas you used inexcel):

If I buy a new car and pay $399 a month for 5 years and themaintenance costs are $50 the first year and increase by $200 ayear for each year after that, how much money would I have tobarrow today at a nominal interest rate of 9% to cover my monthlypayment and my yearly maintenance bill?

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3.9 Ratings (544 Votes)
Amount to borrow today 2083787step 1 Value of monthly    See Answer
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