Question: In the example shown below, cell B4 is an input to cell B7. A B C D 1 Loan Term 12 Months 2 Interest Rate

In the example shown below, cell B4 is an input to cell B7.

A B C D 1 Loan Term 12 Months 2 Interest Rate 5% per Year 3 Initial Value $10,000 4 Payment $856.07 5 6 Month Interest Charged Payment New Balance 7 January $41.67 $856.07 $9,185.59 8 February $38.27 $856.07 $8,367.79 9 March $34.87 $856.07 $7,546.58 10 April $31.44 $856.07 $6,721.95 11 May $28.01 $856.07 $5,893.88 12 June $24.56 $856.07 $5,062.37 13 July $21.09 $856.07 $4,227.39 14 August $17.61 $856.07 $3,388.92 15 September $14.12 $856.07 $2,546.97 16 October $10.61 $856.07 $1,701.51 17 November $7.09 $856.07 $852.52 18 December $3.55 $856.07 ($0.00)

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