What monthly deposit would you need to make, beginning one month from today, into an account paying 11% per year, compounded monthly, in order to have
$500,000 in 30 years?
Click on the arrows to vote for the correct answer
A. B. C. D. E.B
On the BAII Plus, press 360 N, 11 divide 12 = I/Y, 0 PV, 500000 FV, CPT PMT. On the HP12C, press 360 n, 11 ENTER 12 divide i, 0 PV, 500000 FV, PMT. Note that the answer will be displayed as a negative number. Make sure that the BAII Plus has the value of P/Y set to 1.