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Sheet 5: You will stay in a friend's house for five years. Your friend has agreed to let you stay for free for the first
Sheet 5: You will stay in a friend's house for five years. Your friend has agreed to let you stay for free for the first year. The rent you will pay at the end of the second year is $2000, and it will increase by $100 for the following years. You have decided to put a sum of money in your savings account today, which will then help you cover all your rent. If the bank pays 2.5% interest, how much should you invest today? Please use the appropriate spreadsheets function covered in this Module and highlight the sum of money in yellow
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