Question: It is now January 1 , 2 0 1 6 . Today you will deposit $ 1 , 0 0 0 into a savings account

It is now January 1,2016. Today you will deposit $1,000 into a savings account that pays 8%.
If the bank compounds interest annually, how much will you have in your account on January 1,
2019?
a. Use the equation to solve the question.
b. Use the Financial Calculator to solve the question. Write down your input and output in
the table.
Inputs
N I/YR PV PMT FV
Output

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