Homework Answers
A:
| Step 1: Find Fv after 7 years | |
| Using financial calculator | |
| PV | 0 |
| PMT | 201 |
| I/Y | 2.6/12 |
| N=7*12=84 | 84 |
| Solve for FV | $18,496.15 |
| Step 2: Find FV after 2 years | |
| PV | ($18,496.15) |
| PMT | 217 |
| I/Y | 2.6/12 |
| N=2*12=24 | 24 |
| Solve for FV | $14,142.44 |
| Step 3: Find FV after 6 years | |
| PV | ($14,142.44) |
| PMT | -175 |
| I/Y | 2.6/12 |
| N=6*12 | 72 |
| Solve for FV | $30,147.30 |
B: Total interest = FV after 15 years - (Contributions-withdrawal)
= 30147.30-(201*84+217*24-175*72)
= 20655.30
Add Answer to:
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please show me what to put in the TVM solver in addition to solving the problem...
please show me what to put in the TVM solver in addition to
solving the problem
TVM:
N=
I%=
PV=
PMT=
FV=
P/Y=
C/Y=
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please show me what to put in the TVM solver in addition to
solving the problem
TVM:
N=
I%=
PV=
PMT=
FV=
P/Y=
C/Y=
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