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jeyben [28]
3 years ago
5

Melissa invests $37,000 today in a savings account that pays 4 percent interest compounded annually. She wants to know the total

balance in her account seven years from today. Identify the correct keystrokes to be used in a financial calculator to determine the total balance.
a. N = 7, I/Y = 4, PV = -37,000
b. N = 7, I/Y = 4%, PV = -37,000
c. N = 7, I/Y = 4, PV = 37,000
d. N = 7, I/Y = 4%, PV = 37,000
Business
1 answer:
yulyashka [42]3 years ago
6 0

Answer:

c. N = 7, I/Y = 4, PV = 37,000

Explanation:

In financial Calculator the following key wii be pressed to calculate the the balance of the account (Future value)

For the number of year enter N = 7

Interest per year enter I/Y = 4

For present value enter PV = 37,000

This will calculate Malissa's account balance after 7 years which is $48,689.

So the correct answer is c. N = 7, I/Y = 4, PV = 37,000.

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Answer:

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June 1             150 units            $ 1,040               6.93

June 10           200 units              1,560               7.8

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