In all problems assume that payments are made and interest

In all problems assume that payments are made and interest is compounded monthly. You will work in and submit a workbook called assignment5.xlsx. You will also include in your submission the summary of a scenario manager report.

1. Given a loan of $100,000, and an annual interest rate 4%, what monthly payment is needed to pay off the loan in ten years? Store this answer in cell H1.

2. Suppose that you initially invest $10,000. Also suppose that each additional month you invest $300. How much will you have at the end of ten years if the interest rate is 5%? Store this answer in cell H2.

3. Suppose that you need to pay back $20,000. The rate of interest is 4.5%. If you make a monthly payment of $100 how many payments are needed to pay back the loan? Store this answer in cell H3.

4. Given a loan of $25,000 and an interest rate of 5%. Determine the monthly payment amount that is needed to pay the loan back in 5, 10, 15, 20, 25, and 30 years time. You may store these values in a visible place in the sheet.

5. Given a loan $100,000. Determine the number of payments that are needed to pay off the loan for all possible combinations of the following:
   rate: 2%,2.25%,2.5%,2.75%,3%,3.25%,3.5%
   payment: 800,850,900,950,1000.

   Store this table in a clearly visible place in the sheet.

6. You are uncertain about the following: the size of your debt, the interest rate on your debt, and the amount you will pay each month towards your debt. You would like to determine how many months will be needed to pay of your debt under the following scenarios concerning your uncertainties. Best Case: debt:$10000, rate:2%, payment:$500

   Medium Case: debt:$20000, rate:3%, payment:$400
   Worst Case: debt: $30000, rate:5%, payment:$200.
   For each of these cases determine the number of months it will require to payoff the loan. Include a separate sheet in your workbook as done in the lecture videos.

7. Suppose that you want to borrow $20,000. This loan will be paid off over six years. If you are able to make a monthly payment of $350 what interest rate will allow you to pay it off in exactly six years.