Question: A couple wants to save up for a down payment on a house. They think they need to save $100,000 in five years. If the

A couple wants to save up for a down payment on a house. They think they need to save $100,000 in five years. If the interest rate is 4% and they start at the end of the year when they both get bonuses from their employers, what do they have to put aside annually?

I am using the =PMT(rate,nper,pv,fv,type)

But I'm not sure on how to get the correct nper.

Present Value 0 Future Value 100,000 Interest Rate 0.04 Payments 5 ($18,462.71)

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