Solve using excel 2. You give a loan to your friend to buy equipment for his business....

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Finance

Solve using excel
2. You give a loan to your friend to buy equipment for hisbusiness. The friend puts $4000 of their own money as a downpayment, you lend them $12,000. The equipment is $16,000 total. Youwill charge your friend 4.0% Interest every year and will collectmonthly payments for 60 months. Inflation is 1.7% per year,constant for 5 years.
a. What is the monthly payment you will collect?
b. What is the total amount of payments you will collect?
c. What is the vehicle worth at the end of the loan term if itdepreciates in value at $150 each month?

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Solve using excel2. You give a loan to your friend to buy equipment for hisbusiness. The friend puts $4000 of their own money as a downpayment, you lend them $12,000. The equipment is $16,000 total. Youwill charge your friend 4.0% Interest every year and will collectmonthly payments for 60 months. Inflation is 1.7% per year,constant for 5 years.a. What is the monthly payment you will collect?b. What is the total amount of payments you will collect?c. What is the vehicle worth at the end of the loan term if itdepreciates in value at $150 each month?