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.