Question about Sharp EL-738 Scientific Calculator

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I want to invest R10000 in a bank investing at 14% compounded twice a year

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Invest R10000 in a bank investing at 14% compounded twice a year.

A = P(1+i)^n, where A is the amount, P is the principal or initial investment, i is the interest rate per period, and n is the number of periods.

If the annual rate is 14%, the semi-annual rate is 7%. One year is now composed of 2 6-month periods.

So after one year, we have A = 10 000 (1.07)^2 or 11,449.

Good luck,

Paul

Posted on Jun 20, 2016

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SOURCE: invalid computation

Hmmm, I don't think the problem is with your calculator. I'd be checking the accounting question again as I don't think you've got your annuity question structured right.

4 Year Annuity
14% Annual Interest Rate
Your contributing $4,000 per year over the next 4 years
and you already know the future value is $50,069?

You'd have to make annual payments of $11,878.93 (4 of them) at that annual interest rate to get to a future value of $50,069 (which has a present value of $43,632.24).

Are you sure that the FV isn't the trade in value at the end of the 4 years?

Posted on Mar 30, 2008

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Need your help


Try the FV function Syntax
FV(rate,nper,pmt,pv,type)

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