Finance Help....
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  1. #1
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    Finance Help....

    Looking for a little help...I got the answeres in Excel but I need to setup it the way the teacher wants to see it. The question is below.

    Teacher wants it setup the way below and wants us to use a Finace calculator...
    N I/Y PV PMT FV
    ? ? ? ? ?

    I did it this way...
    How much will $1,500 grow to in 9 years earning an annual rate 9% yet using monthly compounding? What about 22 years?
    A= P(1+ r/q)qt ...where "A" is the future amount, "P" is the beginning amount (or "principal"), "r" is the interest rate (expressed as a decimal), "q" is the number of compoundings a year, and "t" is the total number of yearsAns.A= 1500(1+.09/12)12*9=1500*2.241124$3,361.69in 9 yearsA= 1500(1+.09/12)12*22=1500*7.18943$10,784.15in 22 years



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    Re: Finance Help....

    Quote Originally Posted by 2forISU View Post
    Looking for a little help...I got the answeres in Excel but I need to setup it the way the teacher wants to see it. The question is below.

    Teacher wants it setup the way below and wants us to use a Finace calculator...
    N I/Y PV PMT FV
    ? ? ? ? ?

    I did it this way...
    How much will $1,500 grow to in 9 years earning an annual rate 9% yet using monthly compounding? What about 22 years?
    A= P(1+ r/q)qt ...where "A" is the future amount, "P" is the beginning amount (or "principal"), "r" is the interest rate (expressed as a decimal), "q" is the number of compoundings a year, and "t" is the total number of yearsAns.A= 1500(1+.09/12)12*9=1500*2.241124$3,361.69in 9 yearsA= 1500(1+.09/12)12*22=1500*7.18943$10,784.15in 22 years
    Let me Google that for you:

    How To Calculate Compound Interest in Excel | Excel Formula

    This is what you need to do.



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    Re: Finance Help....

    Quote Originally Posted by cjb1978 View Post
    Let me Google that for you:

    How To Calculate Compound Interest in Excel | Excel Formula

    This is what you need to do.

    I know how to do it in excel but not on finance calculator. How do you punch it on a calculator?



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    Re: Finance Help....

    Quote Originally Posted by 2forISU View Post
    I know how to do it in excel but not on finance calculator. How do you punch it on a calculator?
    How To Calculate Compound Interest


    How to Calculate Compound Interest - Investors Calculate Compound Interest



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    Re: Finance Help....

    Quote Originally Posted by 2forISU View Post
    Looking for a little help...I got the answeres in Excel but I need to setup it the way the teacher wants to see it. The question is below.

    Teacher wants it setup the way below and wants us to use a Finace calculator...
    N I/Y PV PMT FV
    ? ? ? ? ?

    I did it this way...
    How much will $1,500 grow to in 9 years earning an annual rate 9% yet using monthly compounding? What about 22 years?
    A= P(1+ r/q)qt ...where "A" is the future amount, "P" is the beginning amount (or "principal"), "r" is the interest rate (expressed as a decimal), "q" is the number of compoundings a year, and "t" is the total number of yearsAns.A= 1500(1+.09/12)12*9=1500*2.241124$3,361.69in 9 yearsA= 1500(1+.09/12)12*22=1500*7.18943$10,784.15in 22 years
    9 Years:
    N = 108 (9yrs*12mos)
    I/Y = .0075 (.09APR/12mos)
    PV = $1,500
    Find for FV

    22 years
    N = 264 (22yrs*12mos)
    I/Y = .0075 (.09APR/12mos)
    PV = $1,500
    Find for FV



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    Re: Finance Help....

    Quote Originally Posted by 2forISU View Post
    ...
    Teacher wants it setup the way below and wants us to use a Finace calculator...
    N I/Y PV PMT FV
    ? ? ? ? ?

    I did it this way...
    How much will $1,500 grow to in 9 years earning an annual rate 9% yet using monthly compounding? What about 22 years?
    A= P(1+ r/q)qt ...where "A" is the future amount, "P" is the beginning amount (or "principal"), "r" is the interest rate (expressed as a decimal), "q" is the number of compoundings a year, and "t" is the total number of yearsAns.A= 1500(1+.09/12)12*9=1500*2.241124$3,361.69in 9 yearsA= 1500(1+.09/12)12*22=1500*7.18943$10,784.15in 22 years
    You'll need to set your calculator's "C/Y" to 12 (compound monthly).
    PV = 1,500
    N = 9 (then 22 for the second part)
    I/Y = 9
    Compute the FV
    (fyi ... one of the values might need to be set to a negative, or the FV may be calculated as a negative ... whichever you choose)
    I don't have my calcluator with me ...

    edited.


    Last edited by Max57; 01-26-2011 at 11:15 AM. Reason: Or as CRAZYGREG did it.

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    Re: Finance Help....

    This looks pretty similar to my HW. What class is this for?



  8. #8
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    Re: Finance Help....

    Quote Originally Posted by CRAZYGREG View Post
    9 Years:
    N = 108 (9yrs*12mos)
    I/Y = .0075 (.09APR/12mos)
    PV = $1,500
    Find for FV

    22 years
    N = 264 (22yrs*12mos)
    I/Y = .0075 (.09APR/12mos)
    PV = $1,500
    Find for FV

    Thank you!



  9. #9
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    Re: Finance Help....

    Quote Originally Posted by nickwc View Post
    This looks pretty similar to my HW. What class is this for?
    I live in St. Louis



  10. #10
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    Re: Finance Help....

    My solution is for C/Y set to 1. You can put the PV in as a (-) if you wish since it is coming out of your p[ocket up front.



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