Suppose we borrow $1000 with the following terms. Use arrow to adjust APR APR n 4% 12 10 Y P 1,000.00 Scorr Guide 1. Produce a table that shows (at 7 columns, not necessarily in this order) month ( should be the first column. Numbers 1 through 120) Balance at the beginning of the month Interest debt created during the month payment made at the end of the month (using PMT formula) Percentage of payment that went toward paying for Interest created Percentage of payment that went toward the reduction of Principal Balance at the end of the month Comece portal Forma (5) 2. At the bottom of the "Interest debt..." column, compute the total interest paid. Scoring Guide for a part 3. At the bottom of the "Payment made..." column, compute the total. Scoring Guide for aspar 4. The items #2 and #3 above can be used to check if your table is correct. If these two numbers and the principal do not fit together exactly, there is something wrong with your table. Correct it! Otherwise, continue. Iberpraded Scoring Guide forma Scaring Guide forter 1.5 5. Create a scatter plot that shows the balance (debt) as a function of month. 6. Create a "Stacked Area Chart" using the two "percentage" columns. 7. Now, read your own table to answer the following questions. (a) With APR 8% what is your monthly payment? (b) With APR 20%, how many months will it take before you start paying more for principal reduction than for the interest? Write your answers in the green box at row 51) 4% 12 APR DIAL 10 1,000.00 CREATE YOUR TABLE HERE. Scoring Guide for Iber: Total point point from each part) APR n Y P $ Put your response to #5 in this box Interest month ??? Payment made ??? ???? ?? created 1 APR Dial 4% 2 3 4 5 6 7 8 9 Put your answer to M6 (stacked area chart) in this box 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 4% APR Write your answers to #7 in this box 7 (a) [b] 31 32 33 34 35 36 37 Suppose we borrow $1000 with the following terms. Use arrow to adjust APR APR n 4% 12 10 Y P 1,000.00 Scorr Guide 1. Produce a table that shows (at 7 columns, not necessarily in this order) month ( should be the first column. Numbers 1 through 120) Balance at the beginning of the month Interest debt created during the month payment made at the end of the month (using PMT formula) Percentage of payment that went toward paying for Interest created Percentage of payment that went toward the reduction of Principal Balance at the end of the month Comece portal Forma (5) 2. At the bottom of the "Interest debt..." column, compute the total interest paid. Scoring Guide for a part 3. At the bottom of the "Payment made..." column, compute the total. Scoring Guide for aspar 4. The items #2 and #3 above can be used to check if your table is correct. If these two numbers and the principal do not fit together exactly, there is something wrong with your table. Correct it! Otherwise, continue. Iberpraded Scoring Guide forma Scaring Guide forter 1.5 5. Create a scatter plot that shows the balance (debt) as a function of month. 6. Create a "Stacked Area Chart" using the two "percentage" columns. 7. Now, read your own table to answer the following questions. (a) With APR 8% what is your monthly payment? (b) With APR 20%, how many months will it take before you start paying more for principal reduction than for the interest? Write your answers in the green box at row 51) 4% 12 APR DIAL 10 1,000.00 CREATE YOUR TABLE HERE. Scoring Guide for Iber: Total point point from each part) APR n Y P $ Put your response to #5 in this box Interest month ??? Payment made ??? ???? ?? created 1 APR Dial 4% 2 3 4 5 6 7 8 9 Put your answer to M6 (stacked area chart) in this box 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 4% APR Write your answers to #7 in this box 7 (a) [b] 31 32 33 34 35 36 37
