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0 Not secure ezto.mheducation.com/hm.tpx l Apps Facebook Google Chrome-Dashboard conect FINANCE Ch 5 Problems Question 5 (of 20) 5. 1000 points you start making $210 monthly contributions today and continue them for ive years, what's their future APR? (Do not round intermediate calculations. Round value if the compounding rate is 9 75 percent your final answer to 2 decimal places.) Future value annuity What is the present value of this annuity? (Do not round intermediate cakculations. Round your final answer to 2 decimal places.) Present value annuity References Book & Resources Worksheet

Explanation / Answer

Set your BA-Plus II calculator on BEGIN Mode:

a.

Using financial calculator BA II Plus - Input details:

#

I/Y = Rate/Frequency =

0.812500

PMT = Payment =

-$210.00

N = Total number of periods =

60.00

PV = Present Value =

$0.00

CPT > FV = Future Value of annuity =

$16,286.04

b.

Using financial calculator BA II Plus - Input details:

#

I/Y = Rate =

         0.812500

PMT =

-$210.00

N = Number of years remaining x frequency =

60

FV = Future Value =

$0.00

CPT > PV = Present value of annuity =

$10,021.96

Using financial calculator BA II Plus - Input details:

#

I/Y = Rate/Frequency =

0.812500

PMT = Payment =

-$210.00

N = Total number of periods =

60.00

PV = Present Value =

$0.00

CPT > FV = Future Value of annuity =

$16,286.04

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