For this lab, we will be looking at realistic interest rates when borrowing. You will come up with a scenario where you have a borrowed amount of money that needs to be paid back. Be prepared to answer the following questions. 1. How much do you intend to pay back? 2. What type of loan is this (car, mortgage credit card)? 3. What is the interest rate that you could get at one of these types of establishments? 4. How often is interest compounded? 5. If you were to try to pay this loan off in 1 year, how much would you need to pay monthly? What about 5 years? What about 10 years? 6. What is the interest rate that you would get from a credit card if your credit was bad? 7. How much would you owe on a credit card after 5 years if you started with a loan of $25,000 and was unable to pay for 5 years (for this calculation ignore the penalty for not paying month after month)