The next several problems have space for your calculator inputs so that you can get partial credit. Also, draw a timeline in the space below the calculator inputs.

1. Suppose you have $1,000 from a summer job that you want to save in a bank for 2 years. The bank tells you that you will be able to get a return of 5% compounded annually. How much will you have in this account at the end of 2 years if no other deposits or withdrawals are made over that period of time?

N

I/Y

PV

PMT

FV

Timeline: