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QUESTION 7 Use a formula! In time value of money problems, you can use a...

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QUESTION 7 Use a formula! In time value of money problems, you can use a formula to find the future value. Read 5-2b. The formula is FV = PV *(1+i) ^N where i is entered as a decimal. Example: if the interest rate is 5%, this would be entered as 0.05. Interest rate variables will be notes asi or r in this class You can use the "yox" button for problems with exponents. Be careful of the order of operations Here is a problem for you to solve: An initial S1,380 compounded for 17 years at 4.74%. Find the future value. Give your answer to two decimals QUESTION 8 Use the Calculator! Read Section 5-2C and consider the following problem: You deposit $2,000 in a bank account that pays 6% interest annually, how much will be in your account after 5 years. Which of the following correctly represent how to enter this in the BA II Plus Financial Calculator? O OPV 0.06 I/Y 5N 2000 PMT CPT FV O-2000 PV 61/Y 5N 0 PMT CPT FV O-2000 PV 0.06 I/Y 5N O PMT CPT FV O OPV 61/Y 5N 2000 PMT CPT FV

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