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6 February, 19:30

The kellys are planning for a retirement home. they estimate they will need $180,000 4 years from now to purchase this home. assuming an interest rate of 9%, what amount must be deposited at the end of each of the 4 years to fund the home price? tvm calculator

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  1. 6 February, 19:54
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    You need to calculate the present value. Present value = future value (1+r) ^-n; 180,000 (1.09) ^-4 = 127,516.538; 127516.538/4 = 31879.13
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