I am having difficulty with the keys I am I'm unsure what keys to practice on the calculator to enter a prop for example 5000(1+.005/12).055
+280 Its hard to explain something like this, but you might have to do each value individually, starting with PEMDAS's rules. Bit by bit enter it in the calculator and finnaly combine the values.
I am having difficulty with the keys I am I'm unsure what keys to practice on the calculator to enter a prop for example 5000(1+.005/12).055
FV = 5,000 x [1 + 0.05/12]^12
FV = 5,000 x 1.0511619.....
FV = $5,255.81 - This is FV of your $5,000 @ 5% comp. monthly for 1 year.
FV = 5,000 x [1 + 0.05/12]^(5*12)
FV = 5,000 x 1.283358678.....
FV = $6,416.79 - This is FV of your $5,000 @ 5% comp.monthly for 5 years.
