Trevor Diaz is looking to purchase a Mercedes Benz SL600 Roadster, which has

| September 6, 2016

Question
Trevor Diaz is looking to purchase a Mercedes Benz SL600 Roadster, which has an invoice price of $121,737 and a total cost of $129,482. Trevor plans to put down $20,000 and will pay the rest by taking on a 5.75 percent five-year bank loan.
What is the monthly payment on this auto loan? Prepare an amortization table using Excel.

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