Compound Interest Calculator

How Much Will I Have in 20 Years?

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Question

If you deposit $7,000 into an account paying 6% per year, compounded annually, how much do you have in the account in 20 years?

Answers

Explanations

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A. B. C. D. E.

E

On the BAII Plus, press 20 N, 6 I/Y, 7000 PV, 0 PMT, CPT FV. On the HP12C, press 20 n, 6 i, 7000 PV, 0 PMT, FV. Note that the answer will be displayed as a negative number. Make sure that the BAII Plus has the P/Y value set to 1.

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