Calculating with HP 10b Business calulator.

1. You plan to invest $1,000 at the end of each year for the next 10 years into an account paying 12.0% compounded monthly. The effective annual rate (EAR) for 12% compounded monthly is 12.6825%. How much will your investment be worth at the end of the ten years?

P/YR=12

PV=-1000

I/YR=12,

N=10x12=120,

Solve for FV: 3,300.39

Does the EAR rate come into play?