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Hi! I am taking FIN 701 and trying to determine how to use the calculator for this example: Initial investment x (1 + (Interest rate
Hi! I am taking FIN 701 and trying to determine how to use the calculator for this example:
Initial investment x (1 + (Interest rate x no. of periods))
Example:$100 x (1 + (.10 x 5 yr)) = 150
I typed:
-100 = PV
10 = I/YR
5 = N
Then hit FV but I am getting 161.05.
What might I be doing wrong?
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