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.
Extracted text: 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.