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Consider a dollar amount of $1,000 today, along with a nominal interest rate of 6.00 %. You are interested in calculating the future value
Consider a dollar amount of $1,000 today, along with a nominal interest rate of 6.00 %. You are interested in calculating the future value of this amount after 9 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 9 years, you would enter a value of for N, a value of for 1/Y. Using the keystrokes you just identified on your financial calculator, the future value of $1,000, compounded annually for 9 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 9 years, you would enter a value of for 1/Y. value of for N, a Using the keystrokes you just identified on your financial calculator, the future value of $1,000, compounded semi-annually for 9 at the given nominal interest rate, yields a future value of When calculating the future value of $1,000, compounded quarterly for 9 years, you would enter a value of for L/Y. for N, a value of Using the keystrokes you just identified on your financial calculator, the future value of $1,000, compounded quarterly for 9 at the given nominal interest rate, yields a future value of When calculating the future value of $1,000, compounded monthly for 9 years, you would enter a value of for 1/ for N, a value of Using the keystrokes you just identified on your financial calculator, the future value of $1,000, compounded monthly for 9 at the given nominal interest rate, yields a future value of Hint: Assume that there are 365 days in a year.
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