i need to come up with two different loans using excel formulas
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Zoom Insert Table Chart Text Shape Media Comment Grading Sheet Budget Expenses Loans Stats Data E F G H 1 J K L M N P Formula Required Number Text 2,500 Link to C Suppose you all decide you want to finance the trip with a loan. Find two different available offers (the internet is a good source). Make sure the interest rate and loan length are both different in each option. Calculate the monthly payment amount, the total amount you will pay over the life of the loan and the total interest you will pay. NOTE: You can find loan rates on major bank and credit union websites without providing personal information, feel free to use one of the links here. Loan payment formula: PMT = P*(r)/(1 - (1 + r)^(-n*t)) PMT is the payment required to pay off a loan of SP at interest rate, r%, compounded n times per year for t years. You must use Excel formulas including cell references to calculate the loan payment, total paid and interest paid. ation aan would be a better option and why: (8 points!) 1 2 3 4 5 Loans Loan A Principal (P) (same for both loans) rate (0) # of Compoundings per year (n) time in years (t) Payment (PMT) 6 7 8 9 10 Total Paid Interest Paid Source Formula Formula 11 12 Link or 13 14 15 16 17 18 19 20 121 22 LH Tru hare Window Help MATHIL Aasgrent 112021801 T Leone H E The Height Data is neesht, you ause this annou formulas Dhtrusion Cumulative Frequency Frequency Law Oroma 16.7 55 Normula us fomu Fornata fomu formula formula Formula for Formula formu ormar Tom wo Formula formula formula hammam Tember in the Him ga MacBook Air Zoom Insert Table Chart Text Shape Media Comment Grading Sheet Budget Expenses Loans Stats Data E F G H 1 J K L M N P Formula Required Number Text 2,500 Link to C Suppose you all decide you want to finance the trip with a loan. Find two different available offers (the internet is a good source). Make sure the interest rate and loan length are both different in each option. Calculate the monthly payment amount, the total amount you will pay over the life of the loan and the total interest you will pay. NOTE: You can find loan rates on major bank and credit union websites without providing personal information, feel free to use one of the links here. Loan payment formula: PMT = P*(r)/(1 - (1 + r)^(-n*t)) PMT is the payment required to pay off a loan of SP at interest rate, r%, compounded n times per year for t years. You must use Excel formulas including cell references to calculate the loan payment, total paid and interest paid. ation aan would be a better option and why: (8 points!) 1 2 3 4 5 Loans Loan A Principal (P) (same for both loans) rate (0) # of Compoundings per year (n) time in years (t) Payment (PMT) 6 7 8 9 10 Total Paid Interest Paid Source Formula Formula 11 12 Link or 13 14 15 16 17 18 19 20 121 22 LH Tru hare Window Help MATHIL Aasgrent 112021801 T Leone H E The Height Data is neesht, you ause this annou formulas Dhtrusion Cumulative Frequency Frequency Law Oroma 16.7 55 Normula us fomu Fornata fomu formula formula Formula for Formula formu ormar Tom wo Formula formula formula hammam Tember in the Him ga MacBook Air
