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. .

You must use Excel formulas including cell references to calculate the loan payment, total paid and interest paid.

Discuss which loan would be a better option and why.

I have budgeted a trip for 5 friends of mine with the amount of 3,00 total. I am having trouble finding exactly what the teacher wants. Here is a tableam supposed to fill out but I am so lost. If you can give me an example of what they want that would be perfect.

Principal

Rate

# of compounds

time

payment

total paid

interest

source