If you deposit $2,000 today, how much will you have in 3 years, if interest is earned at a rate of 8% per year, compounded annually?
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A. B. C. D. E.Explanation
On the BAII Plus, press 3 N, 8 I/Y, 2000 PV, 0 PMT, CPT FV. On the HP12C, press 3 n, 8 i, 2000 PV, FV. Note that the answer will be displayed as a negative number. Make sure the BAII Plus has the P/Y value set to 1.