Amount needed | FV at 18th birthday | |
18th birthday | $ 5,000 | $ 5,000 |
19th birthday | $ 5,000 | $ 4,710.92 |
20th birthday | $ 5,000 | $ 4,438.56 |
21st birthday | $ 5,000 | $ 4,181.94 |
$ 18,331.41 |
n= 15*4 | |
n= 60 | |
rate=1.5% | |
FV= | $ 18,331.41 |
n= 15*4 | |
n= 60 | |
rate=1.5% | |
FV= | $ 18,331.41 |
PMT(1.5%,60,,-18,331.41,0) | ₹ 190.53 |
Type "=PMT(1.5%,60,,-18,331.41,0)" in excel
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