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Question 8 0.5 pts Solve for FV with Annuity Situation of payments at Beginning of Period. See Practice Problems with Calculator Tutorial and/or See Text.

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Question 8 0.5 pts Solve for FV with Annuity Situation of payments at Beginning of Period. See Practice Problems with Calculator Tutorial and/or See Text. Select the correct key strokes on the TIBAIl+ calculator for the following situation. You decide to start saving for a down payment on a car. You plan to deposit $1,000 at the beginning 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 can you expect after 5 years? Change PMT to BGN; then input Nis 5; 1/Y is .05; PV is -1000; Pmt is -1000; then CPT FV Change PMT to BGN; then input Nis 5; 1/Y is 5; PV is 0 or left blank; Pmt is -1000; then CPT FV Change PMT to BGN; then input Nis 5; 1/Y is 5; PV is -1000; Pmt is 1000; then CPT FV Change PMT to BGN; then input N is 5; 1/Y is 5; PV is -1000; Pmt is 1000; then CPT FV

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