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Texas Instru... Master
Re: how long will it take wendys $4000 investment,
Press APPS and select the Finance app. Select the TVM Solver.
Enter -4000 for PV, 0 for PMT, 6000 for FV. Be sure you use the (-) key for PV, not the - key. P/V and C/Y should both be 1 and PMT should be END.
If you want 5% annual interest compounded month, enter 5/12 for I%. If you simply want 5% annual interest, enter 5 for I%. Go to N and press ALPHA ENTER to see the number of periods (months or years according to what you entered earlier in this paragraph).
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With simple interest, there is no compounding. To earn 2200.50 interest in six years, you need to earn 2200.50/6 = 366.75 each year. In order to earn 366.75 at 10.5%, you need a principal of 366.75/10.5% = 3492.86.
If the interest is compounded annually then you only need to invest 2682.13.
Clear the financial registers with 2nd [CLR TVM] Enter the present value: 1 0 0 0 0 0 0 +/- FV Enter the future value: 2 0 0 0 0 0 0 FV Enter the interest rate: 7 I/Y Compute the number of periods: CPT N