FV Function and Goal Seek Command

Find a home in your area that you would like to someday purchase. based on the estimated current price of the home, determine how much money you need to save each month so that in seven years, you have enough to make a down payment of 10% of the current estimated value. Assume that you can save the money in an account that is getting 5.75% return. Create a worksheet that determines how much you have to save each month that in seven years the value of the account is 10% of the current estimated value. HINT: use the FV function with a monthly savings of $400. Then use the Goal Seek command to determine the monthly savings amount. Protect the Worksheet.

Take $500,000.00 as estimated current price of the home.

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