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    Calculate the monthly payment for a car purchase

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    Answer the following questions and add the answers to the attached excel workbook please do not delete the contents that are already imputed

    1. The area of a triangle is equal to ½ the length of the base times the height of the triangle. Use the capabilities of Excel so that when you input the lengths into O2 and P2, the Area will automatically be calculated in Q2. Work in the O, P and Q columns only.
    2. Profit is a function of revenue and expenses. Work in columns S, T and U to set up a formula so that you can input revenues and expenses in S4 and T4 and automatically calculate the profit in U4.
    3. Format the worksheet so that all entries are fully legible and then save your worksheet.

    Part C.

    See the Example in Figure 1.2 of the text. This spreadsheet model calculates the monthly payment for a car purchase. Build that model in columns W, X and Y of your worksheet. Note: you will need to use the payment function, PMT. Calculate the monthly payment for $ 22,000 car with a $3,500 down payment and a $500 trade-in if the term of the loan is 5 years and the annual interest rate is 5%.

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    Solution Summary

    The solution gived detailed steps on calculating the monthly payment for a car purchase using the excel. All formula and calculations are shown and explained.