You ask your friend for a loan of $ 50,000 You both agree on an interest rate of 10 You promise to pay him her in installments at the end of every month for next few years Create this model on EXCEL You want to know what will be effect of various interest rates and the years of repayment on monthly payment amount Use 1 variable input data table You want to know what will be effect of various interest rates and the years of repayment on monthly payment Use 2 variable input data table your model should contain formulas in relevant places Use the below mentioned format Please show where to put the formulas on EXCEL and steps Loan Amount Annual Tax Years Monthly payment Total Payment 50000 10 00 $1,062 35 $63,741 13 One variable data table Effect of various annual tax rates on Monthy Pmt and Total Pmt Annual tax Monthly Payment Total payment 7 00 ) $ 8 00 $ 9 00 , $ 10 00 $ 11 00 ) $ 12 00 ) $ 990 06 $ 59,403 60 1,013 82 60,829 18 1,037 92 62,275 07 1,062 35 63,741 13 1,087 12 65,227 27 1,112 22 66,733 34 Two variable Data Table Effect of various annual tax rates and years on Monthy Payment 4 3 5 6 7 00 , $ 8 00 $ 9 00 ) $ 10 00 ) $ 11 00 $ 12 00 $ 1,543 85$ 1,197 31$ 990 06 $852 45 $754 63 1,566 821,220 65 $1,013 82 $876 66 $779 31 1,589 99 1,244 25 $1,037 92 $901 28 $804 45 1,613 36 1,268 13 $1,062 35 $926 29 $830 06 1,636 94 1,292 28 $856 12 1,660 721,316 69 $1,112 22 $977 51 $882 64 $1,087 12 $951 70

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You ask your friend for a loan of $ 50,000. You both agree on an interest rate of 10 %. You promise to pay him/her

You ask your friend for a loan of $ 50,000. You both agree on an interest rate of 10 %. You promise to pay him/her in installments at the end of every month for next few years. Create this model on EXCEL

-You want to know what will be effect of various interest rates and the years of repayment on monthly payment amount. Use 1 variable input data table

-You want to know what will be effect of various interest rates and the years of repayment on monthly payment. Use 2 variable input data table.

** your model should contain formulas in relevant places.**

Use the below mentioned format: Please show where to put the formulas on EXCEL and steps.

image text in transcribed

Loan Amount Annual Tax Years Monthly payment Total Payment 50000 10.00% $1,062.35 $63,741.13 One variable data table- Effect of various annual tax rates on Monthy Pmt and Total Pmt Annual tax Monthly Payment Total payment 7.00%) $ 8.00% $ 9.00%, $ 10.00% $ 11.00%) $ 12.00%) $ 990.06 $ 59,403.60 1,013.82 60,829.18 1,037.92 62,275.07 1,062.35 63,741.13 1,087.12 65,227.27 1,112.22 66,733.34 Two variable Data Table Effect of various annual tax rates and years on Monthy Payment 4 3 5 6 7.00%, $ 8.00% $ 9.00%) $ 10.00%) $ 11.00% $ 12.00% $ 1,543.85$ 1,197.31$ 990.06 $852.45 $754.63 1,566.821,220.65 $1,013.82 $876.66 $779.31 1,589.99 1,244.25 $1,037.92 $901.28 $804.45 1,613.36 1,268.13 $1,062.35 $926.29 $830.06 1,636.94 1,292.28 $856.12 1,660.721,316.69 $1,112.22 $977.51 $882.64 $1,087.12 $951.70