Question: Hello, I need help understanding the following question, please use the functions in excel to explain your answer!!! ( PV , FV , NPER,PMT ,
Hello, I need help understanding the following question, please use the functions in excel to explain your answer!!! PVFVNPER,PMTRATE, etc. The answer should be $ but I am having a hard time getting there. Thank you for all your help!! Question: Mark and Sonya would like to have the opportunity to buy a home in the next five years. They currently have $ saved toward this goal in an investment account paying annual interest, compounded on a monthly basis. In addition to this, Mark and Sonya add an additional $ every month at the end of the month. Given this information, what amount can you tell Sonya and Mark that they will have for a down payment when they are ready to purchase their home?
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