Question

You just opened a brokerage account, depositing $2,000. You expect the account to earn an interest...

You just opened a brokerage account, depositing $2,000. You expect the account to earn an interest rate of 8.84%. You also plan on depositing $2,000 at the end of years 5 through 10. What will be the value of the account at the end of 20 years, assuming you earn your expected rate of return?

How would I put this in the HP 10bII+ calculator?

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Answer #1
Year Cashflows FVF at 8.84% Future values
0 2000 5.442152 10884.3
1 0 5.00014 0
2 0 4.594028 0
3 0 4.2209 0
4 0 3.878078 0
5 2000 3.5631 7126.2
6 2000 3.273704 6547.409
7 2000 3.007814 6015.627
8 2000 2.763519 5527.037
9 2000 2.539065 5078.131
10 2000 2.332842 4665.684
11 0 2.143368 0
12 0 1.969284 0
13 0 1.809338 0
14 0 1.662383 0
15 0 1.527364 0
16 0 1.403312 0
17 0 1.289334 0
18 0 1.184615 0
19 0 1.0884 0
20 0 1 0
Future value 45844.39
Amount in account at the end of 20yrs = 45884.39
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