Using a calculator involves an understanding for how to enter the provided information. Use the drop-down menus to fill in the correct amounts and keystrokes you would use on a financial calculator to determine the answer in each of the given scenarios. Round final answers to the nearest whole dollar or number; when using I/Y in a calculation round to the nearest two decimal places, but when solving for I/Y, the final answer should be rounded to the nearest whole number and entered without % sign. Maggie Mae's clothing store would like to invest some of it's extra cash in a piece of land that it will sell in 60 year(s). The land will be sold for $240,000. The relevant interest rate is 24% with monthly compounding interest. Determine the price Maggie Mae should pay for the land. (Enter answer as a positive number.) Step 1: 240,000 Step 2: Step 3: Step 4: Answer: Amount Keystroke MAC Enterprises borrowed $20,000 from its bank at a 16% annual interest rate, compounded annually and will repay $31,000. Determine when MAC Enterprises will repay the loan. (Note: When entering Time Value of Money problems with two dollar amounts, one of the amounts must be negative. For this problem, use the drop-down to add the "+/-" button as a keystroke immediately before PV.)