FV of annuity due and single CF question
If u deposit 1.000usd in the bank today and at the beginning of each of the next three years, how much will u have six years from today at 6% interest?
Answer by using BA II PLus:
2nd reset enter
2nd beg 2nd set
2nd quit
4N
6 I/Y
1000 +/ PMT
Cpt fv
Sto 1
2nd beg 2nd clr work
2nd quit
2N
6 I/Y
Rcl 1 +/ pv
Cpt fv
Result of computation is 7,270.24 but correct answer it should be 5,210.23
Could you pls check it out my mistaken in calculating pls! Thanks a lot for your kindly help. |