Question
how to use a financial caculator to solve these problems? What is the difference in value to you today between $1,000 promised 3 years from
how to use a financial caculator to solve these problems?
What is the difference in value to you today between $1,000 promised 3 years from now and $1,500 promised 7 years from now, given an interest rate of 10% compounded monthly?
If you invested $10,000 six years ago and now have $19,738, what annual rate of interest have you been earning?
You plan to deposit $250 in a savings account for each month for five years starting one month from now. The annual interest is 9% compounded monthly.
a) What is the future value at the end of five years?
b) At the end of six years if no additional deposits are made?
c) At the end of five years, as in (a), if an additional $250 is deposited today at t = 0?
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