Based on the car you chose (2021 Jeep Wrangler), state: 1. The total price of the car: $38, 530 2. Down payment percent: 20% 3. Interest rate: 3.79% 4. Loan term: 72 Months  Calculate: 1. Down payment amount. 2. Amount financed (loan amount). 3. Monthly payment. 4. Total interest paid. 5. Amortization schedule for the first three months.

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
ChapterMB: Model-building Problems
Section: Chapter Questions
Problem 27M
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Based on the car you chose (2021 Jeep Wrangler), state:

1. The total price of the car: $38, 530
2. Down payment percent: 20%
3. Interest rate: 3.79%
4. Loan term: 72 Months 

Calculate:

1. Down payment amount.
2. Amount financed (loan amount).
3. Monthly payment.
4. Total interest paid.
5. Amortization schedule for the first three months.

 

 

 

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