Question: There is an example question and real question The example question: The answer is 7922.19 and I cannot get this answer. Calculating future value 7922.19
There is an example question and real question
The example question:
The answer is 7922.19 and I cannot get this answer.
Calculating future value
7922.19
N = 3 years, monthly payments (P/Y=12)
Interest rate = 6.5%, compounded quarterly (C/Y=4)
PV = 0
PMT = -200
Compute FV
Round to 2 decimal places
This is the real question:
Find future value
N = 30 years, monthly payments
Interest rate = 9%, compounded semi-annually
PV = 0
PMT = -2500
Compute FV
Round to 2 decimal places
I cannot get the answer for either, please provide answer and explanation of what I am doing wrong please, please,pleaseand thank you
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