Question: How do we do this? do we have to convert the APR to be compounded monthly because of the effective monthly rate? please help Aratave

How do we do this? do we have to convert the APR to be compounded monthly because of the effective monthly rate? please help

Aratave Mortgage Project (4) Home Insert Draw Page Layout Formulas Data Review View Acrobat Tell me Calibri (Body 11 - A A HII 25 General PASTA B a Av Conditional for Format as Table Call Styles $ %) Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? Xfx C6 $ 15,000 5 Compounded Daily 0.418 5 Years 1 Loan Amount 2 APR Effective Monthly Rate 4 Loan Term 5 Loan Payment Total interest Paid Throughout the life of the 6 Lean 7 8 Interest Amount Paid by the Current Principalmounted Payment by the Current Payment Ending Balance Month 1 Beginning Balance 15,000 Total Payment 10 $ 12 3 4 5 14 15 16 6 7 8 9 10 10 23 12 13 14 15 16 12 18 19 20 23 26 23 24 25 26 27 28 Martgage Car Coan Monthly Compoundina Car Loan Dany Compounding Mortgage Monthly Compounding MacBook Air

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