Imagine that you borrowed $10,000 on a credit card which charges a variable rate. The required minimum payment for the loan is only the interest.

The minimum monthly payment will be the larger of:

1) The prime rate, or,

2) 18.79% APR

Show all of the work for this calculation in one user-defined function.

Make a VBA function to calculate the loan's payment. Test it out on the dataset provided. .

As an example: if the interest rate was 10% APR and you had a balance of $10,000, your monthly payment (interest only) would be $83.33.