Here's the problem:

John believes that the average American will be in debt forever. He decides to create a table that demonstrates this. He thinks that given 60 months (5 years) to get out of debt and the annual percentage rates 1-5 and 7-15 the percentage of the balance required to be paid monthly would be far beyond the average consumer's ability to repay.
Given the following graph, create an excel formula that when the monthly payment is entered, displays the annual percentage rate.
monthly percentage of balance/apr
1.75-1.79%/1%
1.80-1.84%/2%
1.85-1.89%/3%
1.90-1.94%/4%
1.95-1.99%/5%
2.00-2.04%/7%
2.05-2.09%/8%
2.10-2.14%/9%
2.15-2.19%/10%
2.20-2.24%/11%
2.25-2.29%/12%
2.30-2.34%/13%
2.35-2.39%/14%
2.40%/15%
>2.40%/16%

Similar Questions
  1. The average debt for juniors exceeds the debt for sophomores by$ 458$458​, and the average debt for seniors exceeds the debt
    1. answers icon 1 answer
  2. what formula do i have to use for this problems.Problem #4 John Lee saving account has a balance of $2449.After 7years what will
    1. answers icon 0 answers
  3. Word Problem page 19John and Al are in a 15 km race. John averages 4.4 m/s during the first half of the race and then runs at a
    1. answers icon 2 answers
    1. answers icon 0 answers
more similar questions