How much must you deposit today if you wish to have $20,000 in 10 years, assuming that interest accumulates at 9% per year, compounded annually?
Click on the arrows to vote for the correct answer
A. B. C. D. E.Explanation
On the BAII Plus, press 10 N, 9 I/Y, 0 PMT, 20000 FV, CPT PV. On the HP12C, press 10 n, 9 i, 0 PMT, 20000 FV, PV. Note that the answer is displayed as a negative number. Make sure that the BAII Plus has the P/Y value set to 1.