Question: How do you do this problem using a Ti-84 calculator apps, finance, TVM Solver. --------------------------------------------------------------------------------------------- Part A.) I am starting a retirement savings program. I
How do you do this problem using a Ti-84 calculator "apps", "finance", "TVM Solver." --------------------------------------------------------------------------------------------- Part A.) I am starting a retirement savings program. I expect to need $2,000,000 in 40 years I begin with a deposit of $650.00 and then deposit $450.00 per month at an interest rate of 0.500% per month I also have a trust fund that will add $20,000 to the fund at the end of the 7th year What will my monthly deposit need to be, beginning in year 8, if my return increases to 1.000% per month? [THE ANSWER IS $295.00 WITHDRAW]
Part B.) What return is required (%/month) beginning in year 8 if my monthly deposit remains at $450.00 [THE ANSWER IS 0.7%]
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