Question
You wish to purchase a home in five years from now and estimates that an initial down payment of $20,000 will be required at that
You wish to purchase a home in five years from now and estimates that an initial down payment of $20,000 will be required at that time; and you wish to make equal annual end-of year deposits in an account paying annual interest of 4 percent, so what size annuity will result in a lump sum equal to $20,000 at the end of year
Can someone please show me how to use an excel function to get this answer. Please provide which variable to put in each box using the FX function and I need help picking the proper one to use.
This question is from Ashford university BUS401, just a question our professor was asking. I am lost.
thank you..
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