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Question 10 0.5 pts Find FV for an Annuity Situation with End of Period Payments. Select the correct key strokes on the TIBAll+ calculator for
Question 10 0.5 pts Find FV for an Annuity Situation with End of Period Payments. Select the correct key strokes on the TIBAll+ calculator for the following situation. You decide to start saving for a down payment on a car. You plan to deposit the $1000 at the end of each year for 5 years. You plan to deposit your savings with a new online bank offering 5% compounded annually if you commit to not making withdrawals for 5 years (earlier withdrawals will have a penalty charge). You believe that return is above average. How much do you expect to accumulate at the end of 5 years? Be sure PMT is set to default setting, which is END; then input Nis 5; 1/Y is .05; PV is 0 or blank; Pmt is 1000; then CPT FV Be sure PMT is set to default setting, which is END; then input Nis 5.1/Y is 5; PV is 0 or left blank; Pmt is -1000; then CPT FV Be sure PMT is set to default setting, which is END; then input Nis 5.1/Y is 5; PV is 0 or left blank; Pmt is -5000; then CPT FV Be sure PMT is set to default setting, which is END; then input Nis 5:1/Y is .05; PV is -1000; Pmt is -1000; then CPT FV
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