HP 10bII+ Financial GY\Í, g:yÌ, G:::yÏ

Table 6-9	Calculating the balance after six years
Keys		Display	Description
SÙ		6.00	Sets n to 6 years.
É		3,035.28	Calculates the amount you can
			withdraw after six years.

Example: An Individual Retirement Account

You opened an individual retirement account on April 14, 1995, with a deposit of 2,000.

80.00is deducted from your paycheck and you are paid twice a month. The account pays 6.3% annual interest compounded semimonthly. How much will be in the account on April 14, 2010?

Figure 12 Cash flow diagram (Calculate FV)

Set to End mode. Press \¯if BEGIN annunciator is displayed.

Table 6-10 Calculating the balance amount

KeysDisplay Description

GY\Í	24.00	Sets number of periods per year.
G:::yÏ -2,000.00		Stores initial deposit.
g:yÌ	-80.00	Stores regular semimonthly
		deposits.

Time Value of Money Calculations 69