Fieldstone Credit Union is offering a nominal interest rate of 5.82%, compounded

Question

Fieldstone Credit Union is offering a nominal interest rate of 5.82%, compounded monthly, on its savings accounts. If you make a single deposit of $2,289 today, how much will you have in the account in 4 years? Follow the conventions used in this course for precision of intermediate values. Round-off your answer to two decimal places.

I solved this problem as:
I=5.82/12=.49
N=4
PV=0
PMT=(2289)
Solve for FV and I came up with 9,223.52

I am not sure if this is correct and would like to receive feedback

Explanation / Answer

I= 5.82/12= 0.485 N=4*12 = 48 PV= 2289 PMT=0 Solve for FV = -2,887.39 you have $2,887.39 in the account in 4 years

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