Could you please show me how to the answer $129,853 by calculator Casio fx-82 au plus II.

You are to make monthly deposits of $150 into a retirement account that pays 11% interest rate compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 20 years?

Solution

Formula: FV = (C/R)((1+R)^t -1)

C = $150;R = 11%/12 =0.91675%;t = 20*12 = 240 monthly payments

=> FV = (150/0.91675%)*((1+0.91675%)^240 -1) = $129,853