Consider a dollar amount of $$1,000$ today, along with a nominal interest rate of $15\mathrm{.}00\%.$ You are interested in calculating the future value of this

amount after $7$ years.

For all future value calculations, enter $-$$$1,000($with the negative sign$)$ for PV and $0$ for PMT$.$

When calculating the future value of $$1,000,$ compounded annually for $7$ years, you would enter a value of

for $N,$ a value of

for I$/$Y$.$

Using the keystrokes you just identified on your financial calculator, the future value of $$1,000,$ compounded annually for $7$ at the given nominal

interest rate, yields a future value of approximately

When calculating the future value of $$1,000,$ compounded semi$-$annually $($twice per year$)$ for $7$ years, you would enter a value of

for $N,a$

value of

for I$/$Y$.$

Using the keystrokes you just identified on your financial calculator, the future value of $$1,000,$ compounded semi$-$annually for $7$ at the given

nominal interest rate, yields a future value of

When calculating the future value of $$1,000,$ compounded quarterly for $7$ years, you would enter a value of

for $N,$ a value of

for I$/$Y$.$

Using the keystrokes you just identified on your financial calculator, the future value of $$1,000,$ compounded quarterly for $7$ at the given nominal

interest rate, yields a future value of

When calculating the future value of $$1,000,$ compounded monthly for $7$ years, you would enter a value of

for $N,$ a value of

for I$/$Y$.$

Using the keystrokes you just identified on your financial calculator, the future value of $$1,000,$ compounded monthly for $7$ at the given nominal

interest rate, yields a future value of

Hint: Assume that there are $365$ days in a year.