Question

Attached is the excel. The solutions are already there. I just need the function formulas to put in the box to get that answer. If you could just Put exactly what you put in the function box to get these solutions ! Also answer the brief question at the bottom of each question

?? Josh Cordova?-D AutoSave ! ? : Book2 Excel File Home Insert Draw Page LayoutFormulasData Review View Help Power Pvot Tell me what you want to do Share 421 1 14. Imagine you are ready to retire and need $4,500 per month to live comfortably for 30 years from the funds 2 Monthly funds needrd in retirement 3 Currenit value of investments 4 Years funds needed 5 Months funds needed 4,500 $600,000 360 Monthly interest rate neeclesd 7 Annual interest rate needed 8 f the annual interest rate needed invoves taking too much risk, what can you do before retirement to have the Solution: 0.686% Solution: 8.2% 11 15. If you can borrow $180,000 to buy a house using a 30-year mortgage at a 4.02 percent annual rate, what 12 Mortgage loan 13 Annual interest rate o loan 4 Monthly interest rate on loan 15 Mortgage term in years 16 Mortgage term in months 17 Payment of principal and intrrest 18 Total of payrnents 19 Interest paid over 30 years 20 How could the financing be changed so that you paid much less interest and made far fewer payments? 180,000 4.02% 0.335% 360 Solution: $861.42 Solution: $310,112.74 Solution: 5130,112.74 Sheet1 + 11:40 AM Type here to search 4/30/2018

Answer 1

E6=RATE(E5,-E2,E3)
E7=E6*12

E17=PMT(E14,E16,E12)
E18=E17*E16
E19=E18-E12

If tenure is decreased, then fewer payments and also less total interest