Nadia wants to compare monthly payments, total interest, and total cost for interest rates that vary from 7.725% to 8.075%. She has already entered formulas to insert the monthly payment in cell D11, the total interest in cell E11, and the total cost in cell F11. Based on the range C11:F26, create a one-variable data table that uses the rate in cell D6 as the column input cell to provide the comparison that Nadia requests.

Question

Nadia wants to compare monthly payments, total interest, and total cost for interest rates that vary from 7.725% to 8.075%. She has already entered formulas to insert the monthly payment in cell D11, the total interest in cell E11, and the total cost in cell F11. Based on the range C11:F26, create a one-variable data table that uses the rate in cell D6 as the column input cell to provide the comparison that Nadia requests.

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1 answer
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Answer 1

Bot GPT 3.5 answered

To create a one-variable data table for interest rates ranging from 7.725% to 8.075%, you will need to follow these steps:

1. First, enter the interest rates in cells C11 to C26. Start with 7.725% in cell C11 and increase by increments of 0.005% to reach 8.075% in cell C26.

2. In cell D6, enter the formula `=C11`.

3. In cell D11, enter the formula to calculate the monthly payment based on the interest rate in cell D6.

4. In cell E11, enter the formula to calculate the total interest based on the interest rate in cell D6.

5. In cell F11, enter the formula to calculate the total cost based on the monthly payment and total interest in cells D11 and E11.

6. Select the range C10:F26.

7. Go to the "Data" tab and click on "What-If Analysis" in the Data Tools group.

8. Select "Data Table" from the drop-down menu.

9. In the "Row input cell" box, enter the reference for cell D6.

10. Click OK.

The data table will now show the comparison of monthly payments, total interest, and total cost for interest rates ranging from 7.725% to 8.075% based on the input in cell D6.