A car worth $200,000.00 is sold with a down payment of $50,000.00 and the balance in monthly payments over 3 years at an interest rate of 9.5% compounded monthly. Find the value of the monthly payments that the new owner will make.

A car worth $200,000.00 is sold with a down payment of $50,000.00 and the balance in monthly payments over 3 years at an interest rate of 9.5% compounded monthly. Find the value of the monthly payments that the new owner will make.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 11P: The Berndt Corporation expects to have sales of 12 million. Costs other than depreciation are...

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Question

PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS
PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS
PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS
PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS

7.-
A car worth $200,000.00 is sold with a down payment of $50,000.00 and the balance in monthly payments over 3 years at an interest rate of 9.5% compounded monthly. Find the value of the monthly payments that the new owner will make.

Note:
In the image, this is the original exercise, it is in Spanish, but it is easy to understand.

Very important Note:
It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.

please... understand the context of the exercise in Spanish, it is easy to understand

Un automóvil que vale $200,000.00, se vende con un anticipo de $50,000.00 y el saldo en pagos mensuales a 3
años de plazo, a un interés del 9.5% capitalizable mensualmente. Hallar el valor de los pagos mensuales que
hará el nuevo flamante propietario.

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