You are considering purchasing a car with a sticker price of $36,270 (nonnegotiable with no...
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Finance
You are considering purchasing a car with a sticker price of $36,270 (nonnegotiable with no down payment required). You wish to make monthly payments for six years and the most you can afford to pay is $600 a month. Your local bank/credit union has agreed to loan you the money at a 4.39% annual interest rate. Create an amortization table reporting the beginning/ending loan balance, total payment, and portion of payment going to interest and principal. Create a IF statement that answers the question of whether you can afford the loan. What is your monthly loan payment and what is your total interest paid on the loan?
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