Data-Driven Decisions 1 Discussion View & Ponder The sole purpose of collecting and examining data is to help us understand what is happening in the world around us so we can make better decisions. We use data, along with experience, to make decisions at work and home. View this video to explore how experience and data are used when making decisions. Moneyball: Data-based Decisions (YouTube 5:29)2 Moneyball: Data-based decisions : Calculate the Data Download the Simple Loan Calculator and Amortization Table (XLSX). In cell E3, add the expected cost of your car or house. In cell E4, enter the annual interest rate Review the updated results in cells (E8-E11). Calculate the following for your selected scenario. Car Scenario 6-year loan 3-year loan House Scenario . 30-year loan 15-year loan Interpret, Post & Reply Interpret the data and include the following in your initial post. Identify your scenario - either car or house. Analyze the interest amount you will pay for each loan term. How much interest will you pay? How much money and time will you save if you go with a shorter loan term? Discuss whether you would be inclined to increase your monthly payment to shorten the loan's length and save money by not paying interest? Why or why not? Explain how the data influenced your decision. * Tip: Copy and paste the questions into your initial post. Your initial post should be long enough to sufficiently address the prompts, but no more than 250 words. Post your explanation by the end of the fourth day of the module week. Return to the discussion later in the module week and reply to at least two of your classmates posts. In your reply, discuss whether you were surprised by these calculations and how their scenarios could apply to your situation. Your replies should be 50-100 words. Please read these instructions for information on accessing the discussion rubric Review the Discussion Rubric for detailed grading instructions. Simple Loan Calculator Loan amount Annual interest rate Loan period in years Start date of loan Enter values 35,000.00 5.50% 6 3/29/2021 $ Monthly payment Number of payments Total interest Total cost of loan 571.83 72 6.171.48 41,171.48 s S No. 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 MOOEMAS Payment Date 4/29/2021 $ 5/29/2021 $ 6/29/2021 $ 7/29/2021 $ 8/29/2021 $ 9/29/2021 $ 10/29/2021 $ 11/29/2021 $ 12/29/2021 $ 1/29/2022 $ 3/1/2022 $ 3/29/2022 $ 4/29/2022 $ 5/29/2022 $ 6/29/2022 $ 7/29/2022 $ 8/29/2022 $ 9/29/2022 $ 10/29/2022 $ 11/29/2022 $ 12/29/2022 $ 1/29/2023 $ 3/1/2023 $ 3/29/2023 $ 4/29/2023 $ 5/29/2023 $ 6/29/2023 $ Beginning Balance 35,000.00 $ 34,588.59 $ 34,175.30 $ 33,760.11 S 33,343.01 S 32,924.01 $ 32,503.09 $ 32.080.23 $ 31,655.44 $ 31.228.70 $ 30.800.01 S 30,369.35 S 29.936.71 $ 29,502.10 $ 29,065.49 $ 28.626.88 $ 28.186.26 S 27,743.62 $ 27,298.96 $ 26,852.25 $ 26.403.50 S 25,952.69 $ 25,499.81 $ 25,044.86 S 24,587.82 $ 24.128.69 $ 23,667.45 S Payment 571.83 $ 571.83 $ 571.83 $ 571.83 S 571.83 $ 571.83 $ 571.83 S 571.83 S 571.83 S 571.83 S 571.83 $ 571.83 S 571.83 S 571.83 $ 571.83 S 571.83 S 571.83 S 571.83 $ 571.83 S 571.83 $ 571.83 S 571.83 $ 571.83 $ 571.83 S 571.83 3 571.83 $ 571.83 S Principal 411.41 S 413.30 S 415.19 $ 417.09 S 419.00 $ 420.92 $ 422.85 S 424.79 426.74 S 428.69 $ 430.66 $ 432.63 $ 434.62 $ 436.61 S 438.61 $ 440.62 S 442.64 $ 444.67 $ 446.71 $ 448.75 $ 450.81 S 452.88 $ 454.95 S 457.04 $ 459.13 $ 461.24 S 463.35 S Interest 160.42 $ 158.53 $ 156.64 $ 154.73 S 152.82 $ 150.90 $ 148.97 S 147.03 S 145.09 $ 143.13 $ 141.17 S 139.19 $ 137.21 $ 135.22 $ 133.22 S 131.21 S 129.19 S 127.16 S 125.12 $ 123.07 S 121.02 $ 118.95 $ 116.87 S 114.79 s 112.69 $ 110.59 $ 108.48 S Ending Balance 34,588.59 34,175.30 33,760.11 33,343.01 32,924.01 32,503.09 32,080.23 31,655.44 31,228.70 30,800.01 30,369.35 29,936.71 29,502.10 29,065.49 28,626.88 28, 186.26 27,743.62 27,298.96 26,852.25 26,403.50 25,952.69 25,499.81 25,044.86 24,587.82 24,128.69 23,667.45 23,204.10 Data-Driven Decisions 1 Discussion View & Ponder The sole purpose of collecting and examining data is to help us understand what is happening in the world around us so we can make better decisions. We use data, along with experience, to make decisions at work and home. View this video to explore how experience and data are used when making decisions. Moneyball: Data-based Decisions (YouTube 5:29)2 Moneyball: Data-based decisions : Calculate the Data Download the Simple Loan Calculator and Amortization Table (XLSX). In cell E3, add the expected cost of your car or house. In cell E4, enter the annual interest rate Review the updated results in cells (E8-E11). Calculate the following for your selected scenario. Car Scenario 6-year loan 3-year loan House Scenario . 30-year loan 15-year loan Interpret, Post & Reply Interpret the data and include the following in your initial post. Identify your scenario - either car or house. Analyze the interest amount you will pay for each loan term. How much interest will you pay? How much money and time will you save if you go with a shorter loan term? Discuss whether you would be inclined to increase your monthly payment to shorten the loan's length and save money by not paying interest? Why or why not? Explain how the data influenced your decision. * Tip: Copy and paste the questions into your initial post. Your initial post should be long enough to sufficiently address the prompts, but no more than 250 words. Post your explanation by the end of the fourth day of the module week. Return to the discussion later in the module week and reply to at least two of your classmates posts. In your reply, discuss whether you were surprised by these calculations and how their scenarios could apply to your situation. Your replies should be 50-100 words. Please read these instructions for information on accessing the discussion rubric Review the Discussion Rubric for detailed grading instructions. Simple Loan Calculator Loan amount Annual interest rate Loan period in years Start date of loan Enter values 35,000.00 5.50% 6 3/29/2021 $ Monthly payment Number of payments Total interest Total cost of loan 571.83 72 6.171.48 41,171.48 s S No. 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 MOOEMAS Payment Date 4/29/2021 $ 5/29/2021 $ 6/29/2021 $ 7/29/2021 $ 8/29/2021 $ 9/29/2021 $ 10/29/2021 $ 11/29/2021 $ 12/29/2021 $ 1/29/2022 $ 3/1/2022 $ 3/29/2022 $ 4/29/2022 $ 5/29/2022 $ 6/29/2022 $ 7/29/2022 $ 8/29/2022 $ 9/29/2022 $ 10/29/2022 $ 11/29/2022 $ 12/29/2022 $ 1/29/2023 $ 3/1/2023 $ 3/29/2023 $ 4/29/2023 $ 5/29/2023 $ 6/29/2023 $ Beginning Balance 35,000.00 $ 34,588.59 $ 34,175.30 $ 33,760.11 S 33,343.01 S 32,924.01 $ 32,503.09 $ 32.080.23 $ 31,655.44 $ 31.228.70 $ 30.800.01 S 30,369.35 S 29.936.71 $ 29,502.10 $ 29,065.49 $ 28.626.88 $ 28.186.26 S 27,743.62 $ 27,298.96 $ 26,852.25 $ 26.403.50 S 25,952.69 $ 25,499.81 $ 25,044.86 S 24,587.82 $ 24.128.69 $ 23,667.45 S Payment 571.83 $ 571.83 $ 571.83 $ 571.83 S 571.83 $ 571.83 $ 571.83 S 571.83 S 571.83 S 571.83 S 571.83 $ 571.83 S 571.83 S 571.83 $ 571.83 S 571.83 S 571.83 S 571.83 $ 571.83 S 571.83 $ 571.83 S 571.83 $ 571.83 $ 571.83 S 571.83 3 571.83 $ 571.83 S Principal 411.41 S 413.30 S 415.19 $ 417.09 S 419.00 $ 420.92 $ 422.85 S 424.79 426.74 S 428.69 $ 430.66 $ 432.63 $ 434.62 $ 436.61 S 438.61 $ 440.62 S 442.64 $ 444.67 $ 446.71 $ 448.75 $ 450.81 S 452.88 $ 454.95 S 457.04 $ 459.13 $ 461.24 S 463.35 S Interest 160.42 $ 158.53 $ 156.64 $ 154.73 S 152.82 $ 150.90 $ 148.97 S 147.03 S 145.09 $ 143.13 $ 141.17 S 139.19 $ 137.21 $ 135.22 $ 133.22 S 131.21 S 129.19 S 127.16 S 125.12 $ 123.07 S 121.02 $ 118.95 $ 116.87 S 114.79 s 112.69 $ 110.59 $ 108.48 S Ending Balance 34,588.59 34,175.30 33,760.11 33,343.01 32,924.01 32,503.09 32,080.23 31,655.44 31,228.70 30,800.01 30,369.35 29,936.71 29,502.10 29,065.49 28,626.88 28, 186.26 27,743.62 27,298.96 26,852.25 26,403.50 25,952.69 25,499.81 25,044.86 24,587.82 24,128.69 23,667.45 23,204.10