Register
Sarah invests $2,700 today in an account that pays 6 percent interest compounded annually. She wants to know the total balance in her account five years from today. Identify the correct keystrokes to be
31.6k views
2 votes
Sarah invests $2,700 today in an account that pays 6 percent interest compounded annually. She wants to know the total balance in her account five years from today. Identify the correct keystrokes to be used in a financial calculator to determine the total balance.

User AareP
by
4.1k points

1 Answer

1 vote

Answer:

In any financial calculator, all Sarah has to do is to determine the value of the interest rate, the number of compounding periods, and the present value of the investment, and plug in these figures in the software.

For this case, the values are:

Interest rate: 6% compounded annually.

Number of compounding periods: 5 years.

Present value of the investment: $2,700.

User Blm
by
4.3k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

4.7m questions

6.1m answers

Other Questions

Which of the following should be considered last when searching for financing? Family members Banks Commercial finance companies Credit cards I'm guessing it's C but idk
Explain the similarities and differences between how both producers and consumer use money
edna kropp's gross income for a year included salary, $12,400; commission, $27,750; intrerest, $440. Her adjustment to income were payment to a retirement plan, $2,000, and a penalty for withdrawing savings
Your assessment tool contains rich data about child progress in language and literacy but no details to explain the differences between children. You decide to: A. Replace the tool with another B. Analyze
You want to endow a scholarship that will pay $ 7 comma 000$7,000 per year​ forever, starting one year from now. if the​ school's endowment discount rate is 6 %6%​, what amount must you donate to endow
Link Copied!