An investor wants to determine how much interest he must earn to be able to make the payments on a 10-year mortgage which has increasing annual payments.The problem is summarized in the accompanying spreadsheet.The investor has enough money to make an initial investment of $12,000 and hopes he can earn 18% on his investments.He would like to know how low his annual return can be and still allow him to make his payments from interest income.
If the Analytic Solver Platform is used,which are the Objective,Variables and Constraint cells in the spreadsheet for this problem?
Definitions:
Geothermal Energy
Heat energy generated and stored within the Earth, harnessed by humans for heating and generating electricity with minimal environmental impact.
Molten Rock
Liquid rock material formed under the earth's surface at extremely high temperatures, known as magma, or on the surface as lava from a volcanic eruption.
Methanol
Methanol, also known as methyl alcohol, is a chemical compound used as a solvent, antifreeze, fuel, and as a denaturant for ethanol. It is toxic to ingest.
Ethanol
A biofuel derived from corn, sugarcane, or other plant materials, used as an alternative to gasoline.
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