Results Summary: Upon verifying that your savings plan spreadsheet (based on the prototype givens: Principle = 500.00, Payment = 25, APR = 4.5%, and Compounds = 12) has correct quantities throughout, modify your spreadsheet using the following set of data and then complete the following:

Initial Balance (Principal) = 800.00Payment = 25APR = 5.5%Compounds = 12

Month #18 (3 Methods):

Iterations: $1336.60Formula: $1336.60Excel Built-in: $1336.60

Month #36 Balance: $1919.24Interest Total: $219.24Payment Total:$900

Discussion:

1.What would be another way to calculate total rather than merely using '=sum('?

Answer:

2.When was the original principal invested and when was the payment invested (end or beginning of the period)? In the finance world, what type of investment is this called?

Answer: