$7,500 in a money market fund earning 1.00% per year, but you are not sure you want to use any or all of that money HOOT. You Have Using the tables in Exhibit 1-D, located on pp. 42-43 in the Ch. 1 Appendix of Focus on Personal Finance, determine the total amount of payment due at the end of each year, and divide by 12 to estimate the monthly payment for each of the following loan scenarios. Also, calculate the total amount of interest you would pay over the life of each loan. Be sure to show your work for opportunities to earn partial credit, where applicable. For example, if you have the correct formula but put a decimal in the wrong spot you could earn partial credit. The first row in the table has been completed to demonstrate you how work can be shown Loan Amount Rate Intereste Monthly Loan Payment Total Amount of Interest (Monthly Amount Borrowed divided by Loan Payment Term 12)-Loan Table Factor in Exhibit 1-D Amount divided by 12 $7,500 6% 3 years Example Example 7500/2.673-2,805.84 (233.82 3*12)-7,500 917.52 2,805.84/12- 233.82 $7,500 16% 5 years 7500/4.212-1,780.63 (148.38 5*12)-7,500-1,402.8 1.780 63/12-148.38 16% 5 years 10,000/4 212-2,374.171978475'5 12)-10,000-1,870.85 $10,000 2.374.17/12-197.8475