Scenario Summary

Best-Case Scenario Worst case Most Case

Changing Cells:
Cost of Car $ 45,000.00 $ 45,000.00 $ 45,000.00
Down Payment $ 8,000.00 $ 12,000.00 $ 10,000.00
APR 3.25% 6.50% 4.50%
Years 4 6 5
Result Cells:
Monthly payment $823.06 $554.73 $652.51
Total To Repaid $ 39,507.10 $ 39,940.39 $ 39,150.34
Total interest Paid $ 2,507.10 $ 6,940.39 $ 4,150.34
Microsoft Excel 16.0 Answer Report
Worksheet: [e06_script_data.xlsx]Car Loan
Report Created: 7/22/2019 12:18:31 PM
Result: Solver found a solution. All Constraints and optimality conditions are satisfied.
Solver Engine
Engine: GRG Nonlinear
Solution Time: 0.579 Seconds.
Iterations: 1 Subproblems: 2
Solver Options
Max Time Unlimited, Iterations Unlimited, Precision 0.000001
Convergence 0.0001, Population Size 100, Random Seed 0, Derivatives Central
Max Subproblems Unlimited, Max Integer Sols Unlimited, Integer Tolerance 1%, Assume NonNegative

Objective Cell (Value Of)

Cell Name Original Value Final Value
$B$12 Monthly Payment $689.79 $700.00

Variable Cells
Cell Name Original Value Final Value Integer
$B$2 Cost of Car $ 45,000.00 $ 45,000.00 Contin
$B$3 Down Payment $ 8,000.00 $ 8,000.00 Contin
$B$4 APR 4.50% 5.10% Contin
$B$5 No. Years for Loan 5 5 Integer

Constraints
Cell Name Cell Value Formula Status Slack
$B$12 Monthly Payment $700.00 $B$12=700 Binding 0
$B$2 Cost of Car $ 45,000.00 $B$2<=50000 Not Binding 5000
$B$2 Cost of Car $ 45,000.00 $B$2>=40000 Not Binding $ 5,000.00
$B$3 Down Payment $ 8,000.00 $B$3<=8000 Binding 0
$B$3 Down Payment $ 8,000.00 $B$3>=4000 Not Binding $ 4,000.00
$B$4 APR 5.10% $B$4<=0.065 Not Binding 0.0139599733
$B$4 APR 5.10% $B$4>=0.045 Not Binding 0.60%
$B$5 No. Years for Loan 5 $B$5<=6 Not Binding 1
$B$5 No. Years for Loan 5 $B$5>=4 Binding -
$B$5=Integer
Input Area Two-Variable Data Table: APR and Cost of Car
Cost of Car $ 45,000.00
Down Payment $ 8,000.00 APR $ 45,000.00 $ 50,000.00 $ 55,000.00
APR 5.10% 4.50% $ 689.79 $ 783.01 $ 876.22
No. Years for Loan 5 4.75% $ 694.01 $ 787.79 $ 881.57
Payments Per Year 12 5.00% $ 698.24 $ 792.59 $ 886.95
5.25% $ 702.48 $ 797.41 $ 892.34
Output Area 5.50% $ 706.74 $ 802.25 $ 897.75
Amount of Loan $ 37,000.00 5.75% $ 711.02 $ 807.10 $ 903.19
Periodic Rate 0.43% 6.00% $ 715.31 $ 811.98 $ 908.64
No. Payment Periods 60 6.25% $ 719.62 $ 816.87 $ 914.12
Monthly Payment $700.00 6.50% $ 723.95 $ 821.78 $ 919.61
Total to Repay Loan $ 42,000.00 6.75% $ 728.29 $ 826.71 $ 925.12
Total Interest Paid $ 5,000.00 7.00% $ 732.64 $ 831.65 $ 930.66
7.25% $ 737.02 $ 836.61 $ 936.21
7.50% $ 741.40 $ 841.59 $ 941.78
7.75% $ 745.81 $ 846.59 $ 947.38
8.00% $ 750.23 $ 851.61 $ 952.99
8.25% $ 754.66 $ 856.64 $ 958.62
8.50% $ 759.11 $ 861.69 $ 964.28
Range Names Location
Amount_of_Loan ='Car Loan'!$B$9
No._Payment_Periods ='Car Loan'!$B$11
Periodic_Rate ='Car Loan'!$B$10