5. If the price of a car is \$31,000, the interest rate is 4.9%, and the payment period is 5 years, how much is the monthly payment?
If the interest rate goes down to 3.5%, how much is the new monthly payment?

6. A new Web-based order entry system for the ABC Company has the following estimated cash flows for the next 7 years. How much is the NPV of this project at 6% interest rate?
Will the NPV go up or down if the interest rate goes up to 8%? −5000, −3000, −2000, 2900, 4400, 5900, 4800

7. The ABC Company pays a commission to its employees based on the following conditions: Under \$10,000 total sales (\$0–\$9999): No commission \$10,000 to \$20,000 total sales (\$10000–\$20000): \$1000 Over \$20,000 total sales (\$20,001+): \$1000+12% of sales over \$20,000 Using the Nested IF function, calculate the total commission for the following 10 employees:

Employee Name    Total Sales    Total Commission

Bob                          \$12,000
Alan                         \$22,000
Moury                      \$17,000
Mary                        \$32,000
Ron                           \$8,000
Dave                        \$14,000
Brian                        \$25,000
Jean                         \$29,000
Lori                            \$9,800
Jasmine                   \$31,800

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