Table 6-9 Calculating the balance after six years
Example: An Individual Retirement Account
You opened an individual retirement account on April 14, 1995, with a deposit of 2,000.
80.00 is deducted from your paycheck and you are paid twice a month. The account pays
6.3% annual interest compounded semimonthly. How much will be in the account on
April 14, 2010?
Set to End mode. Press
Table 6-10 Calculating the balance amount
Figure 12 Cash flow diagram (Calculate FV)
if BEGIN annunciator is displayed.
Sets n to 6 years.
Calculates the amount you can
withdraw after six years.
Sets number of periods per year.
Stores initial deposit.
Stores regular semimonthly
Time Value of Money Calculations