Hello, I have having some difficulty with this portion f the project I have to do. I have completed the first part and a bit of the second part on my own. However, I am having difficulty on how to format the second part into Excel. Below is the Portion of the work that I have completed and the directions. Thank you for any help!

Part 1:

$1450 + 50 = $1500 charged on May 1st.

Bank of America APR = 18.24%

Monthly interest = 1.52%

$1500 x 1.0152 = $1522.80

1522.80 - 1500 = $22.80

Total bill in July = 1522.80 + 400 = $1922.80

(no interest is charged on the $400 from June because it was paid on time the next month in July?)

decision to delay payment cost you an extra $22.80

Citi Bank APR = 25.99%

Monthly interest = 2.166%

1500 x 1.02166 = $1,532.49

1532.49 1500 = $32.49

Total bill in July = 1532.49 + 400 = $1932.49

Decision to delay payment cost you an extra $32.49 with the Citi card

Part 2:

ADBi Method Card Name BoA Card 18.24% APR
Bill Number	Amount Paid	Interest		Balance Before Interest is added	Balance with interest added
0 (May)	$0	$0		$1500	$1500
1 (June)	$0	$22.80		$1900	$1922.80
2 (July)	$100	$29.22		$1822.80	$1852.03

3 (August) $100 $28.15 $1752.03 $1780.18

4 (September) $100 $27.06 $1680.18 $1707.24

5 (October) $100 $25.95 $1607.24 $1633.19

Using both of the above cards interest rate, solve the following problem and write a report on a word processor detailing the card assumed, the interest rate, and your solution. You must attach a copy of your spreadsheet.

Here's the problem:

1. On May 1st, you charged a $1450 doctor bill for the ankle you sprained while hiking. You also charged the$50 crutches you got at the drug store that day. On June 1st, you charged your $400 plane ticket needed to get home for the summer. On June 3rd, your bill came in the mail for the month of May, and offered you the option of paying nothing for the month since your "credit management has been exemplary"- and reminding you that if you choose to pay nothing, your interest will continue to be charged as in your cardholder's contract.

Part 1: If you decide to accept the company's generosity, and pay the whole bill in July, what will the decision to delay payment cost you? Solve the problem for each of the two cards you have chosen of determining balance. You do not need to do this part in excel. Just include it in your paper. Most of you have a card that uses the ADBi method. See above for an example.

Part 2: Suppose you decide to pay $100 per month, starting on July 3rd (the day of arrival of the next bill),and to pay nothing in June. It will take you a while to pay the whole bill. Construct, for each method of determining the balance, an amortization table for the period of time until the total bill is paid. Use a spreadsheet. Your report should contain three tables, each with headings and first lines looking like the one below. You should fill in the *'s and the rest of the table.

Bill Amount Interest Principal Balance before Balance with

ADBi Method Card Name
Bill Number	Amount Paid	Interest		Balance Before Interest is added	Balance with interest added
0 (May)	$0	$0			$500
1 (June)	$0	$0		$900	$905
2 (July)	$100	$10		$815	$825

Of course, the Interest column entry plus the Principal column entry should equal the Amount columnentry of $100. Continue your table until the balance is zero (or less).