If you deposit $2,250 today into a savings account paying 8% per year, compounded semiannually, how much is in your account in 10 years?
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A. B. C. D. E.Explanation
On the BAII Plus, press 20 N, 8 divide 2 = I/Y, 2250 PV, 0 PMT, CPT FV. On the HP12C, press 20 n, 8 ENTER 2 divide i, 2250 PV, 0 PMT, 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.