\begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & A & B & C & D & E & F & G & H & 1 & J & K & L & M & N \\ \hline 1 & \multicolumn{2}{|c|}{ Loan Payment Calculator } & & & & & & & & & & & & \\ \hline \multicolumn{15}{|l|}{2} \\ \hline 3 & Loan amount & $150,000.00 & & & & & & & & & & & & \\ \hline 4 & Loan term (in years) & 10 & & & & & & & & & & & & \\ \hline 5 & Annual interest rate & 6% & & & & & & & & & & & & \\ \hline 6 & Monthly payment & & & & & & & & & & & & & \\ \hline \multicolumn{15}{|l|}{7} \\ \hline \multicolumn{15}{|l|}{8} \\ \hline \multicolumn{15}{|l|}{9} \\ \hline \multicolumn{15}{|l|}{10} \\ \hline \multicolumn{15}{|l|}{11} \\ \hline \multicolumn{15}{|l|}{12} \\ \hline \multicolumn{15}{|l|}{13} \\ \hline \multicolumn{15}{|l|}{14} \\ \hline \multicolumn{15}{|l|}{15} \\ \hline \multicolumn{15}{|l|}{16} \\ \hline \multicolumn{15}{|l|}{17} \\ \hline \multicolumn{15}{|l|}{18} \\ \hline \multicolumn{15}{|l|}{19} \\ \hline \multicolumn{15}{|l|}{20} \\ \hline \multicolumn{15}{|l|}{21} \\ \hline \multicolumn{15}{|l|}{22} \\ \hline \multicolumn{15}{|l|}{23} \\ \hline \multicolumn{15}{|l|}{24} \\ \hline \multicolumn{15}{|l|}{25} \\ \hline \multicolumn{15}{|l|}{26} \\ \hline \multicolumn{15}{|l|}{27} \\ \hline \multicolumn{15}{|l|}{28} \\ \hline 29 & & & & & & & & & & & & & & \\ \hline 30 & & & & & & & & & & & & & & \\ \hline \end{tabular} The accompanying Loans spreadsheet contains a partially completed spreadsheet model for computing the monthly payment for a loan. Complete the spreadsheet model by entering the formula for computing monthly payment in cell B6. a. Create a vertical one-way data table that shows loan amounts in $10,000 increments from $82,000 to $382,000 and their monthly payment amounts, assuming the loan term and annual interest rate are 10 years and 6%, respectively. What is the monthly payment for a loan of $280,000 ? Note: Round your answer to 2 decimal places. b. Expand the spreadsheet model to include calculations for monthly interest payment and monthly principal payment. Create a vertical one-way data table that shows loan amounts in $10,000 increments from $82,000 to $382,000 and their monthly payment, interest payment, and principal payment amounts, assuming the loan term and annual interest rate are 10 years and 6%, respectively. What is the monthly payment, interest payment, and principal payment amounts for a $330,000 loan? Note: Round your answers to 2 decimal places. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & A & B & C & D & E & F & G & H & 1 & J & K & L & M & N \\ \hline 1 & \multicolumn{2}{|c|}{ Loan Payment Calculator } & & & & & & & & & & & & \\ \hline \multicolumn{15}{|l|}{2} \\ \hline 3 & Loan amount & $150,000.00 & & & & & & & & & & & & \\ \hline 4 & Loan term (in years) & 10 & & & & & & & & & & & & \\ \hline 5 & Annual interest rate & 6% & & & & & & & & & & & & \\ \hline 6 & Monthly payment & & & & & & & & & & & & & \\ \hline \multicolumn{15}{|l|}{7} \\ \hline \multicolumn{15}{|l|}{8} \\ \hline \multicolumn{15}{|l|}{9} \\ \hline \multicolumn{15}{|l|}{10} \\ \hline \multicolumn{15}{|l|}{11} \\ \hline \multicolumn{15}{|l|}{12} \\ \hline \multicolumn{15}{|l|}{13} \\ \hline \multicolumn{15}{|l|}{14} \\ \hline \multicolumn{15}{|l|}{15} \\ \hline \multicolumn{15}{|l|}{16} \\ \hline \multicolumn{15}{|l|}{17} \\ \hline \multicolumn{15}{|l|}{18} \\ \hline \multicolumn{15}{|l|}{19} \\ \hline \multicolumn{15}{|l|}{20} \\ \hline \multicolumn{15}{|l|}{21} \\ \hline \multicolumn{15}{|l|}{22} \\ \hline \multicolumn{15}{|l|}{23} \\ \hline \multicolumn{15}{|l|}{24} \\ \hline \multicolumn{15}{|l|}{25} \\ \hline \multicolumn{15}{|l|}{26} \\ \hline \multicolumn{15}{|l|}{27} \\ \hline \multicolumn{15}{|l|}{28} \\ \hline 29 & & & & & & & & & & & & & & \\ \hline 30 & & & & & & & & & & & & & & \\ \hline \end{tabular} . Create a two-way data table that shows loan amounts in $10,000 increments from $82,000 to $382,000 vertically and annual interest rates in 0.5% increments from 3% to 10% horizontally. Fill the table with monthly payment amounts for various loan amount and interest rate combinations. What is the monthly payment amount for a $380,000 loan with a 7% annual interest rate? Note: Round your answer to 2 decimal places. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & A & B & C & D & E & F & G & H & 1 & J & K & L & M & N \\ \hline 1 & \multicolumn{2}{|c|}{ Loan Payment Calculator } & & & & & & & & & & & & \\ \hline \multicolumn{15}{|l|}{2} \\ \hline 3 & Loan amount & $150,000.00 & & & & & & & & & & & & \\ \hline 4 & Loan term (in years) & 10 & & & & & & & & & & & & \\ \hline 5 & Annual interest rate & 6% & & & & & & & & & & & & \\ \hline 6 & Monthly payment & & & & & & & & & & & & & \\ \hline \multicolumn{15}{|l|}{7} \\ \hline \multicolumn{15}{|l|}{8} \\ \hline \multicolumn{15}{|l|}{9} \\ \hline \multicolumn{15}{|l|}{10} \\ \hline \multicolumn{15}{|l|}{11} \\ \hline \multicolumn{15}{|l|}{12} \\ \hline \multicolumn{15}{|l|}{13} \\ \hline \multicolumn{15}{|l|}{14} \\ \hline \multicolumn{15}{|l|}{15} \\ \hline \multicolumn{15}{|l|}{16} \\ \hline \multicolumn{15}{|l|}{17} \\ \hline \multicolumn{15}{|l|}{18} \\ \hline \multicolumn{15}{|l|}{19} \\ \hline \multicolumn{15}{|l|}{20} \\ \hline \multicolumn{15}{|l|}{21} \\ \hline \multicolumn{15}{|l|}{22} \\ \hline \multicolumn{15}{|l|}{23} \\ \hline \multicolumn{15}{|l|}{24} \\ \hline \multicolumn{15}{|l|}{25} \\ \hline \multicolumn{15}{|l|}{26} \\ \hline \multicolumn{15}{|l|}{27} \\ \hline \multicolumn{15}{|l|}{28} \\ \hline 29 & & & & & & & & & & & & & & \\ \hline 30 & & & & & & & & & & & & & & \\ \hline \end{tabular} The accompanying Loans spreadsheet contains a partially completed spreadsheet model for computing the monthly payment for a loan. Complete the spreadsheet model by entering the formula for computing monthly payment in cell B6. a. Create a vertical one-way data table that shows loan amounts in $10,000 increments from $82,000 to $382,000 and their monthly payment amounts, assuming the loan term and annual interest rate are 10 years and 6%, respectively. What is the monthly payment for a loan of $280,000 ? Note: Round your answer to 2 decimal places. b. Expand the spreadsheet model to include calculations for monthly interest payment and monthly principal payment. Create a vertical one-way data table that shows loan amounts in $10,000 increments from $82,000 to $382,000 and their monthly payment, interest payment, and principal payment amounts, assuming the loan term and annual interest rate are 10 years and 6%, respectively. What is the monthly payment, interest payment, and principal payment amounts for a $330,000 loan? Note: Round your answers to 2 decimal places. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & A & B & C & D & E & F & G & H & 1 & J & K & L & M & N \\ \hline 1 & \multicolumn{2}{|c|}{ Loan Payment Calculator } & & & & & & & & & & & & \\ \hline \multicolumn{15}{|l|}{2} \\ \hline 3 & Loan amount & $150,000.00 & & & & & & & & & & & & \\ \hline 4 & Loan term (in years) & 10 & & & & & & & & & & & & \\ \hline 5 & Annual interest rate & 6% & & & & & & & & & & & & \\ \hline 6 & Monthly payment & & & & & & & & & & & & & \\ \hline \multicolumn{15}{|l|}{7} \\ \hline \multicolumn{15}{|l|}{8} \\ \hline \multicolumn{15}{|l|}{9} \\ \hline \multicolumn{15}{|l|}{10} \\ \hline \multicolumn{15}{|l|}{11} \\ \hline \multicolumn{15}{|l|}{12} \\ \hline \multicolumn{15}{|l|}{13} \\ \hline \multicolumn{15}{|l|}{14} \\ \hline \multicolumn{15}{|l|}{15} \\ \hline \multicolumn{15}{|l|}{16} \\ \hline \multicolumn{15}{|l|}{17} \\ \hline \multicolumn{15}{|l|}{18} \\ \hline \multicolumn{15}{|l|}{19} \\ \hline \multicolumn{15}{|l|}{20} \\ \hline \multicolumn{15}{|l|}{21} \\ \hline \multicolumn{15}{|l|}{22} \\ \hline \multicolumn{15}{|l|}{23} \\ \hline \multicolumn{15}{|l|}{24} \\ \hline \multicolumn{15}{|l|}{25} \\ \hline \multicolumn{15}{|l|}{26} \\ \hline \multicolumn{15}{|l|}{27} \\ \hline \multicolumn{15}{|l|}{28} \\ \hline 29 & & & & & & & & & & & & & & \\ \hline 30 & & & & & & & & & & & & & & \\ \hline \end{tabular} . Create a two-way data table that shows loan amounts in $10,000 increments from $82,000 to $382,000 vertically and annual interest rates in 0.5% increments from 3% to 10% horizontally. Fill the table with monthly payment amounts for various loan amount and interest rate combinations. What is the monthly payment amount for a $380,000 loan with a 7% annual interest rate? Note: Round your answer to 2 decimal places