Compound interest is great when you earn it, but not when you pay it. Like the last Warmup, we use simple values to explore the concept. You owe $600 at a 12% APR compounded monthly. You want to pay it off in 6 months with equal payments. The bank states that the payments are $103.53 each month. Question: A 12\% APR (annual percentage rate) is percent per month? 1. Confirm that the $103.53 monthly payment will pay off the loan by filling out the following table, which is started for you. Round each dollar value to the nearest pennv and use the rounded value to calculate the next amount. Question: What amount was left to pay in month 6 ? 2. Another way to pay this off is to pay $100 of the balance and pay each month's accumulated interest. Then. the record of pavments looks like this. Find the average of all the payments in exercise 2. How does the average compare to the bank's payment amount