Calculate using pmt function and by using goal seek

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Reference no: EM131959007

We use Excel and show our forulas using formula text.

How much do you need to save each year in order to accumulate $50,000 for a down payment on a house in 15 years? Assume that you can earn 3% interest. If interest rates suddenly increase to 8% what would that do to the amount that you need to save each year? Calculate this using PMT function and by using goal seek. Create a table for each scenario to show how your deposits will acculmulate.

Reference no: EM131959007

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