Bachelors degree-accepted job offer at your dream company

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Reference no: EM131989982

You just graduated college with your Bachelors Degree and accepted a job offer at your dream company. You decided to celebrate by purchasing a Mercedes Convertible (see picture above) for $52,640. You have a 720 credit score, therefore you were able to get a 5% interest rate on a 7 year loan. You will be making monthly payments. Using Excel, prepare a professional amortization schedule for the entire 7 years. It must include the payment and the total amount of interest you will pay over the 7 years. (Hint: interest rates are annual, you must convert them to monthly and the periods must be in months, for example, how many months are in 7 years)The Excel cells must contain formulas when appropriate, I recommend cell referencing, both relative and absolute.

Reference no: EM131989982

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