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2 pts Question 2 Vhat is the future value, five years from now, of $60 monthly payments using an interest rate of 0.5% compou
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2) Given Rate=0.5% Nper=5 years Pmt=$60 Future value using excel function: FV=fv(rate, nper , pmt, pv, 0) = fv(0.5%,5,-60,0)

Using Financial calculator:

+ TVM Calculator ADVANCED ? Present Value PV Payments -60 PMT Future Value 300.25 FV Annual Rate% 0.5 RATE Periods 5 PERIOD C

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