Scenari Amount Interest Minimum Expected Interest I Will

o Owed Rate Monthly Payoff Time Pay

Payment (Months) (You will find
this info
in the Debt
Repayment
Chart)
1 3,000 8 30 166 1960
2 3, 000 8 100 34 358
3 3, 000 10 30 216 3477
4 3, 000 10 100 35 467
5 3, 000 15 30 36 104
6 3, 000 15 100 38 784
7 3, 000 20 30 36 111
8 3, 000 20 100 42 1193

1. I did not know the context surrounding this assignment. I suppose it was surprising to
see how long Payoff Times could be.
2. I feel like if it was a loan, there should be no interest. Then again, during this era, people
may not have been so reliable and consequences might have been mandatory.
3. If they are set too high, then the ururer will gain a bad reputation. If the interest is too
low, then the lender customer relationship is muddled.
4. I never considered the fact that interest was a safety blanket for/around lenders of money.