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( d ) Now, when preparing the loan paperwork and agreements, Varnsen Savings and Loan needs to determine what Pennypacker's payments will be in order
d Now, when preparing the loan paperwork and agreements, Varnsen Savings and Loan needs to determine what Pennypacker's payments will be in order to repay the loan. From the perspective of Varnsen, they can think of the payments as an ordinary annuity, with a goal of reaching the future value found in part a
To use the spreadsheet, enter the future value of the annuity in cell Busing value from part a rounded to the nearest cent As you did in part a enter the interest per period in Bas above, do not round this value Then enter the total number of period ie total number of payments in B The payment will display in B
Varnsen Savings and Loan will require a quarterly payment of $round to the nearest cent in their loan repayment contract with Pennypacker.
e From the list below, identify the formula used by the spreadsheet to compute the answer to part d
A
B
C
D
E
F None of these
f Fill in the blanks below with the values that should be used for each variable in the formula chosen in part e If a letter is listed that is not part of the formula, enter "NONE" in the blank.
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