A machine worth $180,000 dollars (19.8535) cash is sold in installments, with a down payment of $5,000 dollars and the balance in a year and a half with monthly payments, charging 124 % interest in peso credits, a) find the value of each of the monthly payments in pesos b) find the total amount paid. c) find the total amount of interest paid. d) find the effective rate.

Elementary Geometry For College Students, 7e
7th Edition
ISBN:9781337614085
Author:Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.
Chapter8: Areas Of Polygons And Circles
Section8.4: Cicumference And Area Of A Cicle
Problem 46E: A tabletop is semicircular when its three congruent drop-leaves are used. By how much has the tables...
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PLEASE, PERFORM THE EXERCISE IN EXCEL
AND SHOW THE FORMULAS
A machine worth $180,000 dollars (19.8535)
cash is sold in installments, with a down payment
of $5,000 dollars and the balance in a year and a
half with monthly payments, charging 124 %
interest in peso credits,
a) find the value of each of the monthly
payments in pesos
b) find the total amount paid.
c) find the total amount of interest paid.
d) find the effective rate.
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.
Transcribed Image Text:PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS A machine worth $180,000 dollars (19.8535) cash is sold in installments, with a down payment of $5,000 dollars and the balance in a year and a half with monthly payments, charging 124 % interest in peso credits, a) find the value of each of the monthly payments in pesos b) find the total amount paid. c) find the total amount of interest paid. d) find the effective rate. 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.
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