Qualify for a Auto Loan Instructions Use an Excel function to cal...

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Qualify for a Auto Loan Instructions Use an Excel function to calculate the Monthly car payment Use Goal Seek to determine the price of car if the down payment is $500 and the Monthly car payment is $450.00. Next create a data table to calculate the different Monthly car payments that a person would have to pay. The table has been started for you with down payments in the row across the top and Prices of Car in the column on the left side of the data table. Format values in the data table: Currency with 2 decimal places Annual interest rate 3.75% $5,000.00 Number of payments per year 12 Total Number of years for loan 6 Price of car 29473.32 Down payment $ 500 Monthly car payment Down Payment $0.00 Price of Car $20,000.00 $2,000.00 $30,000.00 $40,000.00 $50,000.00 $60,000.00 You work for a local bank as a loan officer. Develop a way to determine the retail price for car that a person can afford based on the person's down payment and the monthly payment that you know the person can afford. Financing the purchase of a car Instructions Loan Amount $24,500 Calculate the Monthly Payment using an Excel function and make the resulting value positive (not negative) Annual Interest Rate 3.50% Calculate total of all payments for the loan. Years 6 Calculate total interest paid for the loan. Periods per year 12 Enter a function in A14 to result in either YES or NO. YES if the monthly car payment is <=$400, else NO. Interest Rate per Period 0.002916667 Now use Scenario Manager to create a scenario for the Cruz purchase, but for a loan amount of $20,000, interest rate of 3.0%, and duration of 4 years. Monthly Payment Format values as needed. Total of all payments Total Total interest paid Can I afford this car? Chevrolet Cruz First Name Last Name Email Sales Total sales Alejandro Grove Alejandro_Grove@company.com $55.50 $55.50 Andrew Allen Andrew_Allen@company.com $15.55 $15.55 Brosina Hoffman Brosina_Hoffman@company.com $48.86 $3,714.30 Brosina Hoffman Brosina_Hoffman@company.com $7.28 $3,714.30 Brosina Hoffman Brosina_Hoffman@company.com $907.15 $3,714.30 Brosina Hoffman Brosina_Hoffman@company.com $18.50 $3,714.30 Brosina Hoffman Brosina_Hoffman@company.com $114.90 $3,714.30 Brosina Hoffman Brosina_Hoffman@company.com $1,706.18 $3,714.30 Brosina Hoffman Brosina_Hoffman@company.com $911.42 $3,714.30 Claire Gute Claire_Gute@company.com $261.96 $993.90 Claire Gute Claire_Gute@company.com $731.94 $993.90 Darrin Van Huff Darrin_Van Huff@company.com $14.62 $14.62 Emily Burns Emily_Burns@company.com $1,044.63 $1,044.63 Eric Hoffmann Eric_Hoffmann@company.com $11.65 $102.22 Eric Hoffmann Eric_Hoffmann@company.com $90.57 $102.22 Erin Smith Erin_Smith@company.com $95.62 $95.62 Gene Hale Gene_Hale@company.com $1,097.54 $1,288.46 Gene Hale Gene_Hale@company.com $190.92 $1,288.46 Harold Pawlan Harold_Pawlan@company.com $68.81 $71.35 Harold Pawlan Harold_Pawlan@company.com $2.54 $71.35 Irene Maddox Irene_Maddox@company.com $407.98 $407.98 Ken Black Ken_Black@company.com $19.46 $79.80 Ken Black Ken_Black@company.com $60.34 $79.80 Linda Cazamias Linda_Cazamias@company.com $147.17 $147.17 Matt Abelman Matt_Abelman@company.com $29.47 $29.47 Odella Nelson Odella_Nelson@company.com $45.98 $45.98 Pete Kriz Pete_Kriz@company.com $665.88 $665.88 Ruben Ausman Ruben_Ausman@company.com $77.88 $77.88 Sandra Flanagan Sandra_Flanagan@company.com $71.37 $71.37 Sean O'Donnell Sean_O'Donnell@company.com $957.58 $979.95 Sean O'Donnell Sean_O'Donnell@company.com $22.37 $979.95 Steve Nguyen Steve_Nguyen@company.com $113.33 $1,228.95 Steve Nguyen Steve_Nguyen@company.com $532.40 $1,228.95 Steve Nguyen Steve_Nguyen@company.com $212.06 $1,228.95 Steve Nguyen Steve_Nguyen@company.com $371.17 $1,228.95 Tracy Blumstein Tracy_Blumstein@company.com $3,083.43 $3,329.43 Tracy Blumstein Tracy_Blumstein@company.com $9.62 $3,329.43 Tracy Blumstein Tracy_Blumstein@company.com $124.20 $3,329.43 Tracy Blumstein Tracy_Blumstein@company.com $3.26 $3,329.43 Tracy Blumstein Tracy_Blumstein@company.com $86.30 $3,329.43 Tracy Blumstein Tracy_Blumstein@company.com $6.86 $3,329.43 Tracy Blumstein Tracy_Blumstein@company.com $15.76 $3,329.43 Zuschuss Donatelli Zuschuss_Donatelli@company.com $8.56 $244.76 Zuschuss Donatelli Zuschuss_Donatelli@company.com $213.48 $244.76 Zuschuss Donatelli Zuschuss_Donatelli@company.com $22.72 $244.76 Instructions Based on the data of Question 6, construct a new table, including "Customer Name", "Email", and add a new column "Total Sales". (You need to calculate the total sales of each customer, and add "Total Sales" as a new column!) (Regular table, not a PivotTable) Use Mail Merge to create the following customer email (Dear <<Customer Name>>: Thank you for being such a valuable customer! According to our records, your expenses is <<Total Sales>>. Looking forwaed to serving for you next time!)

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