Finance help!!!
interest?
I would like to save $2,500,000 in 30 years by making regular deposits
at the end of each month in an annuity that pays 7.25% compounded
monthly. How much of the $2,500,000 comes from interest?
We use the PMT function to first calculate the present value per month
for our future value of $2500000. Next we calculate the total amount
that we have deposited in the last 30 years (360 months). We deduct
this value from the our final amount of $2500000 to get our interest
earned.
Watch the video below tp learn how to calculate the present value and
the interest earned (about 10 MB):