Compounding a series
This will calculate: how much money you will have if you make regular installments over a period of time.
Example: if you put $200 a month in the bank for the next 20 years and it earns 6% monthly compounded interest, how much will you have at the end?
Prefer to let the site do the arithmetic? Use the compounding a series form.
- HP-10B keystrokes
-
1
12
P/YR
Sets twelve periods per year
- 2 20 N
- 3 6 I/YR
- 4 200 +/- PMT
- 5 FV = 92,408.18
P/YR tells the calculator how many payments there are in a year. Set it first: 12 for monthly, 1 for annual. It stays set until you change it. +/- changes the number to a negative. On the HP-10B every cash outlay is entered as a negative, which is why the answer comes back positive — it is money you receive.