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Answer:
the amount that necessary to fund is $2,671.61
Step-by-step explanation:
The computation of the amount is shown below;
Given that
PMT = $270
NPER = 6 × 2 = 12
RATE = 6.2% ÷ 2 = 3.1%
FV = $0
The formula is shown below:
=-PV(RATE;NPER;PMT;FV;TYPE)
After applying the above formula the present value is $2,671.61
hence, the amount that necessary to fund is $2,671.61
