Question

What would be the future value of $15,555 invested now if it earns interest at 14.5 percent for seven years? Using a financial calculator, enter 15555 and press PV, enter 14.5 and press %i, and enter 7 and press N. Then, press CPT and FV which gives an answer of 40133.63 or $40,133.63. Using Excel, click financial wizard, then FV, enter 0.14 for rate, 7 for nper, 0 for pmt, 15,555 for PV, 0 for type. Press enter answer is ($40,133.63) in RED.

What would be the future value of $19,378 invested now if the money remains deposited for eight years and the annual interest rate is 18 percent?

              Using a financial calculator, enter 19378 and press PV, enter 18 and press %i, and enter 8 and press N. Then, press CPT and FV which gives an answer of 72839.17 or $72,839.17.

Using Excel, click financial wizard, then FV, enter 0.18 for rate, 8 for nper, 0 for pmt, 19,378 for PV, 0 for type. Press enter, answer is ($72,839.17) in RED.

Answer 1

Via EXCEL :

i)click financial wizard, then FV, enter 0.14 for rate, 7 for nper, 0 for pmt, 15,555 for PV, 0 for type. Press enter answer is ($40,133.63) in RED.

ii).click financial wizard, then FV, enter 0.18 for rate, 8 for nper, 0 for pmt, 19,378 for PV, 0 for type. Press enter, answer is ($72,839.17) in RED.

Via Financial Calculator:

i) enter 15555 and press PV, enter 14.5 and press i/y, and enter 7 and press N. Then, press CPT and FV which gives an answer of 40133.63 or $40,133.63.

ii).enter 19378 and press PV, enter 18 and press i/y, and enter 8 and press N. Then, press CPT and FV which gives an answer of 72839.17 or $72,839.17.