Question: HELP! How do I solve this using a HP 10bII calculator ( What buttons do I press) You have just received a windfall from an
HELP! How do I solve this using a HP 10bII calculator ( What buttons do I press)
You have just received a windfall from an investment you made in a friend's business. She will be paying you 60,000 at the end of the year, 120,000 at the end of next year, 180,000 at the end of the year after that (three years for today). The interest rate is 16% per year.
a. What is the present value of your windfall?
b. What is the future value of your windfall in three years (on the date of the last payment)?
Formula:
PV= 60.000/(1+0.16) + 120,000/(1+0.16)^2 + 180,000/(1+0.16)^3 = 256,222
I know how to solve it on normal TI-84 math calculator, but how do I make it easier solving on Financial calculator
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