Question: i need help to get equation what to put in...
I need help to get equation what to put in excel to get the same answer below the question.
Also, can I know what the variables are stand for?
Q : I know I'm going to need a new car in five years. I'm anticipading $20,000. How much do i have to save in order to be able to pay cash for car? I currently get a 10% return on my saving:
A : = pmt(0.1/12,60, ,-20000) $258.27 =FV(0.1/12,60,-258.27)