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-12C keystrokes
- 1 20 g n
- 2 6 g i
- 3 200 CHS PMT
- 4 FV = 92,408.18
CHS changes the number to a negative. On the HP-12C every cash outlay is entered as a negative, which is why the answer comes back positive — it is money you receive. g is the blue shift key — press it immediately before n or i to enter the term in months rather than years.