Question

I have the answers I just don't know how to input the answers into a formula in the excel solver so that it can accept my answers. Thank you.

EXCEL 2: CHAPTER 5 x Get Homework Help With Che X → C newconnect.mheducation.com/flow/connect.html EXCEL 2: CHAPTER 5 A Saved Help Save & Exit Submit Calibri B I D % Alignment Number - - 13-A A U. 3- A Font G * v for D Conditional Format as Cell Formatting Table Styles @ Cells - H Editing Styles Clipboard A1 eBook D EFGHIJ KL You want to buy a new sports coupe for $79,500, and the finance office at the dealership has quoted you an APR of 5.8 percent for a 60-month loan to buy the car. What will your monthly payments be? What is the effective annual rate on this loan? 79,500 5.8% Cost of Car Discount rate # of years # of times compounded per year 12 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. Payment Effective interest rate 5.96% Graw < Prey 3 of 5 Next >

Answer 1

ДА В E F $79,500 5.80% Cost of Car Discount rate # of years # of times compounded per year 12 Payment $1,529.58 Effective interest rate 5.96%

B nm + Cost of Car 79500 Discount rate 0.058 # of years # of times compounded per year 12 2 14 Payment =PMT(D7/D9,08*D9,-D6) 15 16 Effective interest rate =EFFECT(D7,09) 17