7. You plan to borrow $250,000 now to purchase a house and repay it in 30 years with equal monthly payments (payments will be made at the end of each month). If the annual interest rate is 6% compounded monthly, how much will your monthly payments be?what is the excel formula to find the remaining answers

Future value amount(s) Present value amount Time and number of periods (including compounding timing) Interest rate 0 ($1,498.88) 250000 360 monthly 0.005 monthly 12 30 years 0.06 5 1. 6 2. 73. 84. 9 10 11 " 12 12 13 14 15 16 17 18 19 TIMELINE MONTHS u balance 250000 2 3 4 5 6