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SO YOU WANT TO BUY A CAR

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									                      SO YOU WANT TO BUY A CAR




Create a spreadsheet with the following information:

PERSONAL LOAN for the purchase of a car of $10,000. Monthly repayments of $240.
Current interest rate is 11.25%

Set out as follows:

                      LOAN FOR CAR $10,000

                          Principle   Interest   Monthly Monthly       New
                          Sum                    Payments Interest     Principle

1 10 April 2004           10,000    11.25%       240.00    (formula) (formula)
2 10 May 2004             (formula) 11.25%       240.00        “          “
3 10 June 2004
4 10 July 2004
5 10 August 2004
6 10 September 2004
7 10 October 2004
8 10 November 2004
9 10 December 2004
10 10 January 2005
11 10 February 2005
12 10 March 2005

TOTAL                                            _______ _______
                                                 (formula) (formula)
                      SO YOU WANT TO BUY A CAR




Create a spreadsheet with the following information:

PERSONAL LOAN for the purchase of a car of $10,000. Monthly repayments of $240.
Current interest rate is 11.25%

Set out as follows:

                      LOAN FOR CAR $10,000

                          Principle   Interest   Monthly Monthly       New
                          Sum                    Payments Interest     Principle

1 10 April 2002           10,000    11.25%       240.00    (formula) (formula)
2 10 May 2002             (formula) 11.25%       240.00        “          “
3 10 June 2002
4 10 July 2002
5 10 August 2002
6 10 September 2002
7 10 October 2002
8 10 November 2002
9 10 December 2002
10 10 January 2003
11 10 February 2003
12 10 March 2003

TOTAL                                            _______ _______
                                                 (formula) (formula)

								
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