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Refer to the worksheet named LOANS. This worksheet contains commercial loan information for 1000 loans. Columns H and I provide interest rates. Thus, clients with
Refer to the worksheet named LOANS. This worksheet contains commercial loan information for 1000 loans. Columns H and I provide interest rates. Thus, clients with "A" credit ratings receive loans at an annual rate of 6%, clients with "B" credit ratings receive loans at an annual rate of 8%, and clients with "C" credit ratings receive loans at an annual rate of 12%. 14. How many clients have a credit rating of B? 15. Across all clients, what is the mean annual interest rate? (Note: this entails calculating interest rates, and providing an answer that is accurate to four digits right of the decimal.) 16. Across all clients, what is the mean (average) monthly payment amount (using the individual interest rates calculated for each client in Q15)? (Again, note this entails calculating payment amounts, assume payments are due at the end of each period and the loan balance is completely paid at the end of the loan.) 17. Which client has the largest monthly payment, and what is that monthly payment amount? (client number and payment amount) F1010 f B D E F G H Credit Rating A B Annual Interest Rate 0.06 0.08 0.12 Loan # of Monthly Payment Amount Payments Amount 55,000 120 15,000 60 35,000 60 20,000 60 105,000 60 90,000 24 155,000 24 50,000 24 170,000 60 75,000 120 Client Credit Interest 1 Number Rating Rate 2 895694 B 3 894308 B 4 177864 5 612166 6 509207 930467 998 495447 A 999 947694 1000 751996 1001 715503 1002 1003 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017
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