FVA=PMT((1+(r/12)t(12))1)/(r/12)PVA=PMT((1(1+(r/12))t(12)))/(r/12) Using the formulas above, calculate the following 1) You want to buy a home and have negotiated a sale price of $600,000 and have to put a down payment of 20%, you can get a loan from your local bank at a rate of 4.5% annually for 30 years. What is your MONTHLY payment? 2) You want to buy a car and have negotiated a sale price of $35,000 and have to put a down payment of 25%, you can get a loan from your local bank at a rate of 8% annually for 5 years. What is your MONTHLY payment? 3) You want to buy a yacht in 5 years, and have negotiated a sale price of $300,000. You have to save up to get a 30% down payment of $90,000. If your investment account pays 12% interest annually, how much will you have to put into the account MONTHLY to reach your goal in five years? (Hint FVA)