Need help with a finance question please.?
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Find the future value $5,000 deposited per year for 10 years at 6% with interest compounded annually. I am using a financial calculator. I got the following functions. N=10 I=6 PV=5000. FV= solving for . Are these the correct functions to use for my calculator? If I am missing something or something is incorrect please feel free to correct my errors. Thanks
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Answer:
Yes, except Depending on the calculator, you may need to enter .06 as the Interest Rate, and -5000 as the PV - so the answer comes back as a positive number The correct answer is $8,954.24
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Other answers
Yes, except Depending on the calculator, you may need to enter .06 as the Interest Rate, and -5000 as the PV - so the answer comes back as a positive number The correct answer is $8,954.24
Marc
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