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1 6 . Starting at cell E 5 , fill in the range of annual interest rates of 1 % through 1 0 % ,

16. Starting at cell E5, fill in the range of annual interest rates of 1% through 10%, in increments of 1%.
17. Enter a reference for the loan payment (cell B10) into the appropriate location in the data table.
18. Complete the two variable data table to display the loan payment for each corresponding loan
duration and annual interest rate.
19. Open the Solver and set an objective of 700 for the loan payment (cell B10) by changing the annual
interest rate (cell B5) and the loan duration (cell B7).
20. Add a Solver integer constraint for the loan duration (cell B7).
21. Run the Solver to solve for the solution. Keep the solution but do not generate any reports.
22. Create a formula in cell B12 that calculates the cumulative principal repaid on the loan after 1 year
of payments. Assume that loan payments are made at the end of the payment period.
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