# solution

compute the size of the first payment of a car loan. More specifically, youĂ˘â‚¬â„˘ll borrow \$25,141 today at an APR of 11%. There will be a total of 31 equally-sized (g = 0), monthly payments with the first payment due in one month.

B) LetĂ˘â‚¬â„˘s rework A (with different numbers), using Excel. More specifically, youĂ˘â‚¬â„˘ll borrow \$10,563 today at an APR of 8%. There will be a total of 31 equally-sized (g = 0), monthly payments with the first payment due in one month.

C) Now letĂ˘â‚¬â„˘s redo Problem A, using Excel, with new numbers: Compute the size of the first payment of a car loan.

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More specifically, youĂ˘â‚¬â„˘ll borrow \$11,520 today at an APR of 10%. There will be a total of 60 equally-sized (g = 0), monthly payments with the first payment due immediately.