project budget total brought forward 6418.33

5 Now, perform each of the calculations indicated. Recall that the loan payment formula for the amount PMT that must be paid n times per year for t years to pay off an initial principal amount P, assuming interest accrual at a rate of r, is given by PMT = P*(r)/(1 -(1 +r)*(-n*t)) Format all amounts as Currency with the S symbol and 2 decimal places, and all n and t entries as Number with 0 decimals Bring your 5-year projected budget total forward from the Project Budget $6,418 33 26 and Projection sheet 6 Sponsorship (invest a fixed amount for 5 years with 8 Loan payment (determine the monthly payment required for a 5-year loan to cover the remainder of the annual compounding) budget costs) The additional amount you need to cover Percentage of your Budget Total to invest 26.2% your 5-year budget costs (P) Principal amount to invest (P), based on your budget total and the percentage in Your APR (r) 3.6% B29 MM Your APR (r) 3.8% Number of payments per year (n) Number of compoundings per year (n) Number of years (t) Number of years (t) The monthly loan payment (PMT) Your 5-year sponsorship total