Question: RM711: Homework for Module 4 Imagine that you borrowed $10,000 on a credit card which charges a variable rate. The required minimum payment for the

 RM711: Homework for Module 4 Imagine that you borrowed $10,000 on
a credit card which charges a variable rate. The required minimum payment

RM711: Homework for Module 4 Imagine that you borrowed $10,000 on a credit card which charges a variable rate. The required minimum payment for the loan is only the interest. The minimum monthly payment will be the larger of: 1) The prime rate, or, 2) 18.79% APR For full credit, you must do all of the work for this calculation in one user-defined function. Create a VBA function to calculate the loan's payment. Test it out on the dataset provided. When finished, email your XLSM file to the GMAIL account listed on the class website. \begin{tabular}{|c|c|c|} \hline & \multicolumn{1}{|c|}{ A } \\ \hline 1 & Loan Amount & $ \\ \hline 2 & & \\ \hline 3 & & V \\ \hline 4 & Prime Rate APR & \\ \hline 5 & 8.75% & $ \\ \hline 6 & 9.99% & $ \\ \hline 7 & 12.72% & $ \\ \hline 8 & 16.50% & $ \\ \hline 9 & 19.40% & $ \\ \hline 10 & 21.77% & $ \\ \hline 11 & 24.67% & $ \\ \hline 12 & & \\ \hline 13 & & \\ \hline 14 & & \\ \hline 15 & & \\ \hline \end{tabular} RM711: Homework for Module 4 Imagine that you borrowed $10,000 on a credit card which charges a variable rate. The required minimum payment for the loan is only the interest. The minimum monthly payment will be the larger of: 1) The prime rate, or, 2) 18.79% APR For full credit, you must do all of the work for this calculation in one user-defined function. Create a VBA function to calculate the loan's payment. Test it out on the dataset provided. When finished, email your XLSM file to the GMAIL account listed on the class website. \begin{tabular}{|c|c|c|} \hline & \multicolumn{1}{|c|}{ A } \\ \hline 1 & Loan Amount & $ \\ \hline 2 & & \\ \hline 3 & & V \\ \hline 4 & Prime Rate APR & \\ \hline 5 & 8.75% & $ \\ \hline 6 & 9.99% & $ \\ \hline 7 & 12.72% & $ \\ \hline 8 & 16.50% & $ \\ \hline 9 & 19.40% & $ \\ \hline 10 & 21.77% & $ \\ \hline 11 & 24.67% & $ \\ \hline 12 & & \\ \hline 13 & & \\ \hline 14 & & \\ \hline 15 & & \\ \hline \end{tabular}

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