You plan to buy the house of your dreams in 18 years. You have estimated that...

Question

Question

Answer 1

Answer #1

Amount needed to be placed every month is calculated using the PMT function as:-

=PMT(rate,nper,pv,fv)

=PMT(4.17%/12,18*12,0,115506)

=359.82

Where,

rate is periodic rate

nper is number of periods

fv is future value

Answer 2

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