MUMUWUN HJ PVA = PMT((1-(1+(r/12))^-t(12))/(r/12) FVA = PMT((1+(r/12)^t(12))-1)/(r/12) Using the formulas above, calculate the following = 1) You just found the home of your dreams and you have negotiated a sale price of $575,000. You can get a 20 year loan from your local bank at a rate of 4.25% per year. Additionally, the bank requires you to put a 25% down payment and they will finance the balance. What is your MONTHLY payment? (10) 2) You can afford to pay $400 a MONTH for a new car. If the bank rates are 4.5% annually and the bank will loan you the money for five years, how much car can you buy, or how much money can you borrow