Algebra finance

Question

Use the future use the future value formula to find the indicated value.

Fv=2'000 i=0.05 pmt=200 n=?

Answer 1

This is easy with the HP 12 C financial calculator, making sure you follow the sign convention of negative for payments and positive for amounts received such as future value

Enter 200 then the minus sign and then PMT

Enter 5 then i

Enter 2000 then PV

Finally hit n and get the result n = 9