MTH 154 Northern Virginia Community College Car Loan Excel Sheet apr car loan assignment, computing monthly loans in a table. includes apr percentages and

MTH 154 Northern Virginia Community College Car Loan Excel Sheet apr car loan assignment, computing monthly loans in a table. includes apr percentages and interest over years. P
$ 15,000.00
APR
6%
APR
n
t
12
5 $
PMT
289.99
Table Showing Monthly Payments for Different APR’s and Terms
Number of Years (t)
1
2
3
4
5
6
Total Interest Paid Over Life of the Loan
Number of Years (t)
1
2
3
4
6
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
APR
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
5
Review the example given in the chapter involving car payments.
a.) Recreate the 10 by 6 table computing the monthly payments for a $15,000
loan for the ten different APR’s and six different lengths of time. Be sure to use
proper absolute/mixed/relative cell references.
b.) Create another table which computes the total interest paid over the life of the loan
for each of the sixty monthly payments given in the table. There is a very easy way to do
this, simply subtract the loan from the total of all the payments made over the life of the
loan. Be sure to use proper absolute/mixed/relative cell references.
c.) Create a well-labeled graph for your table from part b.

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