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need row and column for what if function: Data table Part 2 Construct a two-variable data table to analyze the impact of different interest rates
need row and column for what if function: Data table
Part 2 Construct a two-variable data table to analyze the impact of different interest rates and Price of the car on the Total amount paid (Total Payments) using interest rates: 2.5%, 3%, 3.5%, 4%, 4.5% and 5% and car prices from 10K to 35K in 5K increments. What would be the Total payments for a car that has a price of $15,000 with a 4.50% interest rate ? Total Payments 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% $13,921.56 $10,000.00 $15,000.00 $20,000.00 $25,000.00 $30,000.00 $35,000.00 Auto Purchase Input Area Price of Car Down payment APR Length of Note (years) Number of Payments Per Year 2 $15,000.00 $ 2,000.00 4.50% 3 12 B 1 Output Area 5 Amount of Note (Loan Amount $13,000.00 5 Periodic Rate 0.38% Number of Payments 24 3 Monthly Payment $567.42 Total Payments $13,618.12 Total Interest Paid $ 618.12 1 2Step by Step Solution
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