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How do you solve this using the PV function? Please show your work in excel. Beginning three months from now, you want to be able
How do you solve this using the PV function? Please show your work in excel.
Beginning three months from now, you want to be able to withdraw $2,200 each quarter from your bank account to cover college expenses over the next four years. If the account pays .43 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next four years? Quarterly withdrawal Quarters per year Number of years Interest rate per quarter 4 4 0.43% Complete the following analysis. Do not hard code values in your calculations. Your answer should be positive. PVI PV(rate, nper, pmt, [fv]. (type]) Amount needed todayStep by Step Solution
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