please show how you are calculating

Example Problem - How to Show Your Work Teresa wants to invest $2500 per year for 20 years at 6% compounded annually. How much will Teresa have after 20 years? Answer: (put answer here) Na Vy= PV 20 X 1= 20 6/16 0 PMT -2500 ??? This is how to "show your work." Fill in the blanks with the information you know, then solve the problem with your calculator. Finish by typing in your answer in the provided place. FV 44 45 16 1a. Compute the amount of an annuity. Elke Erbach contributes $5000 to her Individual Retirement Account (IRA) at the END of each year. How much will she accumulate in 20 years if the account earns 8% compounded annually? 47 148 N= 2011-20 la. $ $ 19 Wy 8/18 50 PV= 51 PMT= 52 FVE 53 1b. Switch the timing of the payments. Elke learned that she could increase her ending amount if she makes her annual contribution at the beginning of the year rather than at the end. Switch the payments to be made at the beginning of each period and then recalculate the amount of the annuity. Change your calculator to BGN by: 2nd PMT (BGN) 2nd ENTER (SET) ENTER change back same way NE 1b. $ Vy PV PMT= FV= 66 67 2a. Helmut Hoffman Is 50 years old. He plans to contribute $5000 to his Roth IRA at the END of each year for 10 years until he retires at age 60. Make sure your calculator is set to END. 68 69 Compute the future value of the annuity if this account returns 9%, compounded annually. 70 71 NE 2a. $ 72 Vy- 73 PVE 74 PMT= 75 FV: 16 78 2b. Compute how much interest he earned during the 10-year term. 79 80 2b. 81 82 Show work here: 83 B4 85 86 20. In an experiment to see how the term (how long he invests) affects the amount accumulated, now assume that Helmet has begun to make his annual $5000 contributions ten years earlier, at age 40 (vs. 50). Recompute the amount of the annuity. How much will he accumulate (FV)? Still END N. 2. $ Vye PV: PMT= FV= 3a. Max Meyer is 59 years old. He has always earned a good income and has always lived very well. As a result, Max has some wonderful memories but, unfortunately, no retirement savings. Now, with six years to go before retirement, he has vowed to "catch up". Max wants to have $200,000 accumulated when he starts retirement. He plans to save $1,800 at the END of each month until then and estimates that he can earn 7% compounded monthly Will Max reach his goal in time for his planned retirement date? NE 3a. YES or NO: WY PV- PMT= FV