Use Excel (PV, FV, or PMT)

Let's say you are planning to purchase a house as soon as your student loans are paid off in 8 years. After graduation, you plan to live in an apartment for $820 a month and your dream is to buy a home worth $240,000 in 8 years. Once your debt is paid off, you will combine your apartment payment with your former debt payment to pay for the mortgage. That does not mean it is your payment, but rather where the money comes from. If you took a $4,637 loan at the beginning of each year at a 7% interest, how much debt do you have immediately after graduation (assuming you graduate in 4 years)? What is your annual payment over the life of the student debt if you pay it off in 8 years? You receive a bonus at work and decide to use all the money toward a 20% downpayment. How much do you have to take in loans after the downpayment? What is the annual payment of a fixed 4.6% interest, 20 year mortgage? After combining the annual student debt payment and annual apartment payment, how much additional money must you pay for your annual mortgage