Question: The Payment (PMT) Function below is a commonly used calculation in Finance and Accounting. Suppose you have a desired outcome in mind for the PMT()

The Payment (PMT) Function below is a commonly used calculation in Finance and Accounting. Suppose you have a desired outcome in mind for the PMT() function$800. You want to find a Down Pmt that will use the current values of Mntly Rate, Term in Mns, and Principal to achieve your goal of a Mntly Payment of $800.

AC	AD
Monthly rate	0.05
Term in mns	360
Principal	200,000
Down Payment	?
Monthly Payment	PMT

a) What value of Mnthly Rate will achieve your $800 goal?

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