Keys:

Display:

Description:

 

 

 

 

 

"

Displays TVM menu.

"

 

]

 

@c

#$ 5?@2 H<A 0EAH" Clears history stack and

 

 

 

 

 

 

 

TVM variables.

 

 

 

 

"

Sets one compounding

.

 

 

 

 

 

 

1

Y

 

"

per./yr. (one interest

e#"5?@2 H<A"0EAH" pmt./yr.). Payment mode does not matter.

7.2U ;6@28-&$("

2000 & V5O8/$K(((&(("

3000 X GO8%K(((&(("

T<8.&*%"

Stores annual interest rate.

Stores amount of deposit.

Stores future account balance in FV. Calculates number of compounding periods (years) for the account to reach $3,000.

There is no conventional way to interpret results based on a non-integer value (5.83) of N. Since the calculated value of N is between 5 and 6, it will take 6 years of annual compounding to achieve a balance of at least $3,000. The actual balance at the end of 6 years can be calculated as follows:

6

T

<8'&(("

Stores a whole number of

 

 

 

years in N.

XGO8%K(%.&$*" Calculates account balance after six years.

Example: An Individual Retirement Account (IRA). You opened an IRA on April 15, 2003, with a deposit of $2,000. Thereafter, you deposit $80.00 into the account at the end of each half-month. The account pays 8.3% annual interest, compounded semimonthly. How much money will the account contain on April 15, 2018?

72 5: Time Value of Money

File name : 17BII-Plus-Manual-E-PRINT-030709

Print data : 2003/7/11