Question: Please solve using excel We know that how you pay back the loan is as important as how much you borrow. You are borrowing $103,746
Please solve using excel
We know that how you pay back the loan is as important as how much you borrow. You are borrowing $103,746 for 6 years at 4.35% PY. I am looking for two different methods using COMPOUND interest. ONE OF THE SOLUTION MUST BE A TABLE. Show two DIFFERENT ways and calculate the results that demonstrate financial equivalence for this problem. Do not show me simple and compound interest. DO NOT simply change the compounding term (IE. A daily, mothly, yearly calculation). Do not show me two calculations that give the same solution. (IE Excel formula and hand calculation). How much will you pay over the life of the loan in each way? WHICH ONE costs you the LEAST amount of interest, WHY?
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