Type your question here The scenario is designed to help you determine and

Type your question here

The scenario is designed to help you determine and evaluate the payment amount of a car loan and a mortgage based on the assumption that your household income
is $36000 per year or $3000 per month.

Based on your income you may spend 28% of your monthly income on housing and 10% on a car loan. You are to put a 3% down payment on the house and a 10% down
payment on the car.

Using Microsoft Excel address the following issues:

Maximum car payment: .10*3000=300 a month

Maximum mortgage payment: .28*3000= 840 a month