Sue wants to buy a car that costs $12,000. She has arranged to borrow the...
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Accounting
Sue wants to buy a car that costs $12,000. She has arranged to borrow the total purchase price of the car from her credit union at a simple interest rate equal to 12 percent. The loan requires quarterly payments for a period of three years. If the first payment is due in three months (one quarter) after purchasing the car, what will be the amount of Sues quarterly payments on the loan?
**Please answer on EXCEL SPREADSHEET. PLEAS USE THE METHOD BELOW AS A GUIDE**
Note: According to the equation shown in cell C8, the input values must be entered in a spench order: I/Y, N, PMT, FV, and PMT type. PVA(D) As describ the BGN1 PV of an Annuity Due-PVA(DUE)
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