Final answer:
Neeta can use the option c. Goal Seek feature of a spreadsheet to figure out the suitable loan term for her car loan by setting a goal for her monthly car expenses and finding the necessary loan payment to stay within that budget.
Step-by-step explanation:
Neeta is planning to take a car loan and is considering the payback time while accounting for the increase in monthly fuel costs. To determine which payment plan might be more beneficial for her, Neeta can use the Goal Seek feature of a spreadsheet. This tool allows her to set a goal for a particular cell and work backwards to find the necessary input value to achieve that goal. For instance, if she wants to maintain a certain budget for her monthly car expenses, including the loan payment and fuel, she can use Goal Seek to find out what her monthly loan payment needs to be to stay within that budget for different loan terms.
Using Goal Seek, Neeta could input the total cost of the car, the interest rate, and the desired monthly payment, and the spreadsheet would calculate the necessary loan term. This would give her a clear comparison between the 5-year and 6-year payment plans. Goal Seek is a part of What-If Analysis tools in spreadsheet programs like Microsoft Excel that analyze various scenarios based on changing input values.