Ch 3-Hands On Ex 1(Car Loan).xls
| A | B | C | D | |
| Price of car | 14999 | |||
| Manufacturer's rebate | ||||
| Down Payment | ||||
| Amount to finance | =B1-(B2+B3) | |||
| Interest rate | 0.09 | |||
| Term (Years) | 3 | |||
| Monthly Payment | =PMT(B5/12,B6*12,-B4) | |||
| Above and below are Hands-on Ex. 1 | ||||
| (1) enter the data above | ||||
| (2) Change price of car to $13,999. | ||||
| (3) Enter the manufacturer's rebate:$1000 | ||||
| (4) Enter down payment of $3,000 | ||||
| (5) Change int. rate to 8%, term to 4yrs | ||||
| (6) Click in B7, Click Tools-Goal Seek | ||||
| (7) Enter 200 in the To value text box. | ||||
| (8) Enter "By Changing Cell" =B1 | ||||
| =SUM(C11:C18) | =SUM(D11:D18) |