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The formula is FV = PV * (1+ i) ^ N where i is entered as a decimal. Example: if the interest rate is 5%,
- The formula is FV = PV * (1+ i) ^ N where i is entered as a decimal.
- Example: if the interest rate is 5%, this would be entered as 0.05. Interest rate variables will be notes as i or r in this class
- You can use the yx button for problems with exponents.
- Be careful of the order of operations
- Here is a problem for you to solve:
An initial $972 compounded for 6 years at 4.8%. Find the future value. Give your answer to two decimals
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Open Market Operations And Financial Markets
Authors: David Mayes , Jan Toporowski
1st Edition
0415417759, 978-0415417754
