Lets say, you wanted to find out what the present value is of $400 received 3 years from now if the interest rate you could earn were 8%.

PV=CPT=-317.533 FV=400 N=3 I=8% PMT=0 (for all these problems PMT will equal 0; we discuss PMT in chapter 6)

Identify the component you are solving for with CPT (just like on the calculator); highlight that component; denote the cash flow direction.

Do not round any of your inputs and round your final answer to three decimal places. What is the future value of $700 deposited for one year earning 4% interest rate annually?