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Use the savings plan formula (regular payments) to compete the following: You are planning to buy or upgrade to your forever home in five years.
Use the savings plan formula (regular payments) to compete the following:
You are planning to buy or upgrade to your forever home in five years. You will need a down payment of $20,000. Using the savings plan formula, compute the monthly payments (amount saved per month) required to meet this goal of $20,000, if the APR = 5%. The monthly payments is $ ___________.
PMT=(AAPR/n)/(((1+APR/n)^((nY) )-1) )
Please answer ASAP!
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