Question: Please show what to add into the TVM Solver on a calculator to get these answers 1. Find the 10-year FV of a $400 monthly
Please show what to add into the TVM Solver on a calculator to get these answers
1. Find the 10-year FV of a $400 monthly annuity growing at 4% and earning 8%, annually, Solution: $87,456.91 2. Find the PV of a 15-year $500 (initial) quarterly annuity growing at 2.0% and earning 6.5%. Solution:$21,654.27 3. Find the first month's savings required to realize a FV (in 15 years) of $1,000,000 Assume your monthly savings will grow 3%, annually, and earn 9%. Also, assume that you begin saving today Solution: $2,185.66
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