n this project, you will apply your knowledge of data tables to create an amortization chart for a car purchase. The goal is to calculate the monthly payments, principal, and interest portions based on three different interest rates. To enhance organization and clarity, each interest rate will be presented on a separate worksheet. Follow the instructions below to complete the project.

Set Up Worksheets

Create a new Excel workbook and add three worksheets, labeling them as "Interest Rate $1,"$ "Interest Rate $2,"$ and "Interest Rate $3."$

Data Entry

On each worksheet, set up a table to capture the following information:

Month$/$Period $($You can choose from a $4$ year loan or $6$ year$)$

Loan Amount $($Enter the initial loan amount$)$ Find your dream car! How much would it be$?$

Interest Rate $($Enter the specific interest rate for that worksheet$)$ Worksheet $1$ is $4\%,$ Worksheet $2$ is $14\%$ and Worksheet $3$ is $20\%.$ These correspond to interest rates you may get with low credit, median credit, and good credit.

Calculations

In the "Interest Rate $1"$ worksheet, enter the appropriate formulas in the "Monthly Payment," "Principal Payment," "Interest Payment," and "Remaining Balance" columns to calculate the values based on the loan amount and interest rate. Use the appropriate formulas to ensure accurate calculations.

Repeat the same calculations for the remaining two worksheets, adjusting the formulas to reflect the corresponding interest rates.

Formatting and Visualization

Apply formatting to the tables and charts, including font styles, borders, and cell formatting to enhance readability and presentation. $($Be sure to reflect on the PowerPoint module, a lot of the same "Don'ts" apply here too.$)$