Solving Simple Annunity problem on BAII Plus Calculator
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- Опубликовано: 8 сен 2024
- Problem solved in this video:
Beginning three months from now, you want to be able to withdraw $2,300 each quarter from your bank account to cover tuition expenses over the next four years. If the account pays .65 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next four years?
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Thank you so much! I had the same problem with different numbers and was able to figure it out because of you! Thank you!
These videos are so helpful...best on you tube!!!
A very special thanks the Joshua for urgently posting the solution to this question. I really do appreciate it and with this I've got a really good chance at this upcoming exam. Thanks again! you've got yourself a subscriber :)
*****
It's a pleasure Shahpar. Have a great exam.
Nice video, it really helped! Keep it up brotha
Very good lesson😅
Thanks Joshua!
Could u please tell me how to solve the quesiton below: how much would u have to pay now for a retirement annuity that would provide 3000 at the end of every three months at 5 compounded quarterly for the first ten years and 2500 at the end of each month at 6 compounded monthly for the following five years....................................
+周沁哲
Last 5 years
PMT = 2500;
P/Y = 12, C/Y = 12;
N = 12x5 = 60
I/Y = 6;
FV = 0
CPT PV = -129313.90 This is the amount remaining at the beginning of the last 5 years or at the end of the first 10 years.
First 10 Years
P/Y = 4, C/Y = 4;
N = 4x10 = 40
I/Y = 5;
PMT = 3000;
FV = 129313.90
CPT PV = -172657.10 This is the amount you deposit at the beginning.
+Joshua Emmanuel Hi, here is a problem with the second part, the real I/Y= 5.
Best regards from Venezuela.
+Diego F. Duque
You're right Diego. It's fixed now. Thanks for pointing it out.