d . Ella is considering to take out a loan of $ 1 0 , 0 0
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d Ella is considering to take out a loan of $ to fund this promotion service. The bank has offered three loan options.
Option : Ella needs to make daily payment of $ from January to May inclusive
Option : Ella needs to make monthly payment of $ by the end of each month from January to May inclusive
Option : Ella needs to make five payments by the end of each month from January to May inclusive Ella needs to pay $ for January $ for February $ for March $ for April and $ for May
Use Goal Seek to find the implied effective annual rate ie j charged by bank for these three loan options Assume that there are days in a year. Which one is better? Use a bar or column chart to compare the loan repayment amount of option and option Plot all payments for option and option Label this sheet as Part d
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