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Use the spreadsheet to answer the following questions. monthly payments are made in the first...

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Finance

Use the spreadsheet to answer the following questions. monthly payments are made in the first year.
a. What are the periodic rate and APY for an APR of 6% on the $1,000 loan?
b. What are the periodic rate and APY for an APR of 24% on the $1,000 loan?
c. What are the periodic rate and APY for an APR of 24% on a $2,000 loan?
d. If you change the principal borrowed, does this change the periodic rate or the APY?
a. What are the periodic rate and APY for an APR of 6% on the $1,000 loan?
The periodic rate for an APR of 6% on the $1,000 loan is \rceil
(Type an integer or decimal rounded to two decimal places as needed.)
The APY for an APR of 6% on the $1,000 loan is %
(Type an integer or decimal rounded to three decimal places as needed.)

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