JUST RIGHT TRUE OR FALSE THEN EXPLAIN WHY IT IS RIGHT OR WRONG BASED ON THE ILLUSTRATION.

Instruction: a. For item 1 to 6. write T if the answer is TRUE; F if the answer is FALSE. b. For item 7 to 20 write the letter corresponding to the correct answer for each item. 1) In the example shown below, cell B4 is an input to cell B7. D 12 Months 5% per Year $10,000 $856.07 1 Loan Term 2 Interest Rate 3 Initial Value 4 Payment 5 6 Month 7 January 8 February 9 March 10 April 11 May 12 June 13 July 14 August 15 September 16 October 17 November 18 December Interest Charged Payment New Balance $41.67 $856.07 $9,185.59 $38.27 $856.07 $8,367.79 $34.87 $856.07 $7,546.58 $31.44 $856.07 $6,721.95 $28.01 $856.07 $5,893.88 $24.56 $856.07 $5,062.37 $21.09 $856.07 $4,227.39 $17.61 $856.07 $3,388.92 $14.12 $856.07 $2,546.97 $10.61 $856.07 $1,701.51 $7.09 $856.07 $852.52 $3.55 $856.07 (S0.00) 2) In the example shown below, cells B7 through B18 are inputs to cell B4. A D 1 Loan Term 12 Months 2 Interest Rate 5% per Year 3 Initial Value $10,000 4 Payment $856.07 5 6 Month Intere Charged Payment New Balance 7 January SALPX $856.07 $9,185.59 8 February 28 $856.07 $8,367.79 9 March SA 87 $856.07 $7,546.58 10 April SA $856.07 $6,721.95 11 May $28.01 $856.07 $5,893.88 12 June $2456 $856.07 $5,062.37 13 July $21.08 $856.07 $4,227.39 14 August $17.64 $856.07 $3,388.92 15 September $14.12 $856.07 $2,546.97 16 October $10.61 $856.07 $1,701.51 17 November $7.09 $856.07 $852.52 18 December $3.55 $856.07 (S0.00) 19