HP 10bII - Savings Calculations

60 5: Time Value of Money Calculations
Savings Calculations
Example: A Savings Account. ,I\RXGHSRVLWLQDVDYLQJV
DFFRXQWWKDWSD\VDQQXDOLQWHUHVWFRPSRXQGHGDQQXDOO\DQGPDNH
QRRWKHUGHSRVLWVWRWKHDFFRXQWKRZORQJZLOOLWWDNHIRUWKHDFFRXQWWR
JURZWR"
6LQFHWKLVDFFRXQWKDVQRUHJXODUSD\PHQWV307 WKHSD\PHQW
PRGH(QGRU%HJLQLVLUUHOHYDQW
Keys: Display: Description:
*&
0.00
&OHDUVDOOUHJLVWHUV
*b
1.00
6HWV3<5WRVLQFHLQWHUHVW
LVFRPSRXQGHGDQQXDOO\
(
–2,000.00
6WRUHVDPRXQWSDLGRXWIRU
ILUVWGHSRVLW
/
3,000.00
6WRUHVWKHDPRXQW\RXZLVK
WRDFFXPXODWH
.
7.20
6WRUHVDQQXDOLQWHUHVWUDWH
P
5.83
&DOFXODWHVQXPEHURI\HDUVLW
WDNHVWRUHDFK
...
213
I/YR = 7.2%
N=?
P/YR=1
FV = 3,000.00
PV = -2,000.00
PMT=0
N=?
Wednesday, June 21, 2000 5:19 PM