Question: How do you work this problems on a HP 10bII+ finance calculator for all three parts? Problem 5-54 (similar to) + Question Help (Complex present
How do you work this problems on a HP 10bII+ finance calculator for all three parts?
Problem 5-54 (similar to) + Question Help (Complex present value) You would like to have $34.000 in 15 years. To accumulate this amount you plan to deposit each year an equalsium in the bank which will perce interest compounded annually. Your first payment will be made at the end of the year a. How much must you deposit annually to accumulate this amount? b. If you decide to make a large lump sum deposit today instead of the annual deposits, how large should this lump-sum deposit be? (Assume you can percent on this doposit) c. At the end of 6 years you will receive $10,000 and deposit this in the bank toward your goal of $34.000 at the end of 15 years. In addition to this dapost how much must you deposit in equal annual deposits to reach your goal? (Again assume you can earn 6 percent on this deposit.) a. How much must you deposit annually to accumulate $34.000 in 15 years? (Round to the nearest cent.)
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