Question

What would be the Excel Formula to solve this question?

Deb and Rusty know that buying a house will save them money on taxes because they get to deduct the interest they pay to the bank each year and the property taxes they pay each year. First create a separate worksheet from the amortization schedule. Title this worksheet Analysis. In this worksheet, create a column titled Income starting at $90,000 and increasing at 3% for 20 years. What is their income after 20 years?

Answer 1

Answer:

Income after 20 years = 162550.01

Step-by-step explanation:

In cell B2, enter 90000

In cell B3, enter +B2*1.03

Copy cell B3 to cells B4:B22

Set number format for column B to 2 decimal places.

Read cell B22 = 162550.01

Income after 20 years = 162550.01