Question

Car Payment related Loan Amount: 80000 (Cell A3) Interest Rate:  4.5% per year (Cell B3) Years of...

Car Payment related

Loan Amount: 80000 (Cell A3)

Interest Rate:  4.5% per year (Cell B3)

Years of the loan: 6 years (Cell B5)

  1. What is the formula to figure out the monthly payment? (Show formula first, then when you hit enter, you should see the monthly payment amount.) (2 points)
  2. What is the first pay period’s Principle and Interest payment?  (Show formula first, then when you hit enter, you should see the Principle and Interest amounts. (4 points)


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