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show work using financial calculator

3. You plan to retire in 35 years. At the end of each year, you plan on saving $15,000, and your bank pays you 2% annual inte
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Answer #1

We will use the financial calculator for calculation of the future value of the investments made towards savings. Please find below the calculations and the numbers that we need to insert for every key.

Particulars Amount
Present Value of the Loan - PV 0
No of years - N 35
Interest Rate per year - I/Y 2.00%
Contributions per year - PMT 15,000.00
Future Value - FV -7,49,917.16

We will have an investment amount of $749,917.16 after we save a amount of $15000 per year for 35 years.

We will receive the negative sign in the computation of the answer but we need to ignore the same.

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