Frank C. answered • 01/05/18
Tutor
0
(0)
Professional and Passionate Math Tutor
The correct equation is: FV = PV*(1+i)n
So if they give you that FV, i & n and you want to calculate the PV in one fell swoop, do the algebra to get PV by itself. In this case, you would divide (1+i)n to both sides.
- FV/(1+i)n = PV
So now with plugging in the numbers, this is what you want to type in your calculator, button for button, to get the PV:
10000/(1+.045)^3
8762.96604
That's what it should spit out :P
Ryan D.
i used Xy and got close but still not it????
Report
01/05/18
Frank C.
That's what I was gonna say next. If you don't have a carrot (^) button, there might be a button that looks like xy, that's supposed to give you the exponent of whatever you want. So type in everything else the same except instead of ^ do xy.
If you don't have a button like that, or you swear you're typing it in right and not getting the right answer. Remember that anything cubed (3) simply means to multiply it by itself 3 times, so just calculate it that way.
10000/((1+.045)×(1+.045)×(1+.045))
You might have to stick to calculating powers that way until you buy a fancier graphing calculator, with a carrot (^). But remember there are many ways you can access a calculator that has ^ or xy: smartphone apps, googling "calculator" will give you one, and a website called http://www.wolframalpha.com/ is very awesome for all of your calculating needs.
Best of luck!
Report
01/05/18
Frank C.
There could be a button that looks like xy, it does the exact same thing as the ^. If not, you might have to buy a fancier graphing calculator, with the carrot (^). But you still have free access to some helpful calculators: smartphone apps, googling "calculator" will give one with the xy button, and wolframalpha.com also is really good for any calculating needs.
No need to fret my man!
Report
01/05/18
Ryan D.
01/05/18