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Chance favors the one with a prepared mind.

NEW QUESTION: 1
If you deposit $100 a month, beginning next month, for 20 years into an account paying 8% per year, compounded monthly, how much is in your account after that last deposit?
A. $4,576.20
B. $24,000.00
C. $2,131.88
D. $58,902.04
E. $61,549.18
Answer: D
Explanation:
Explanation/Reference:
Explanation:
On the BAII Plus, press 240 N, 8 divide 12 = I/Y, 0 PV, 100 PMT, CPT FV. On the HP12C, press 240 n, 8 ENTER 12 divide i, 0 PV, 100 PMT, FV. On the BAII Plus, make sure the value of P/Y is set to 1. Note that the answer is displayed as a negative number.


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