C22 - r A A l B l C l D I E I F I G 1_ 2 3 4_ Task 1 Data Task 2 Data 5_ 6 Loan Amount $175,000.00 Monthly Payment $1,200.00 L Interest Rate" 4.25% Interest Rate\" 4.25% 87 Number of Payments 360 Number of Payments 360 9_ 11 Monthly Payment $855.78 Loan Amount ($308,080.82) 11_ 127 'Rememberto divide the interest rate by 12(to calculate the monthlyinterest rate) ' Rememberto divide the interest rate by 12(to calculate the monthlyinterest 13 in yourfunction. rate) in yourfunction. 1E 15 1E Task 3 and 4 Data Task 5 Data 1 13 Loan Amount $212,000.00 Monthly Savings Amount 11 Monthly Payment $950.00 Interest Rate" 21 Number of Payments 360 Number of Months 21_ 2; Nominal Interest Rate Future Account Balance 2:: Effective Interest Rate 2: 25 'Rememberto multiplythe nominalinterest rate by 12(to calculate the annual ' Rememberto divide the interest rate by 12(to calculate the monthlyinterest 26 interest rate). rate) in yourfunction. 97 G12 X V B C D E F H A G 27 28 29 Task 6-8 Data 30 31 15 Year Mortgage 30 Year Mortgage 32 Loan Amount $310,000.00 $310,000.00 33 Interest Rate* 4.50% 4.50% 34 Number of Payments 180 360 35 36 Monthly Payment 37 38 Total Payments (PMT * # of PMTs) $0.00 $0.00 39 40 Difference between 30-year and 15-year payback (the 30 41 year amount - the 15 year amount) 42 * Remember to divide the interest rate by 12 (to calculate the monthly interest rate) in your functions. 43 44 45 46 47 48 49 50 51 52 52