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Financial Calculators. ILX Lightwave May 14, 2003. Marsha A. Goetting Ph.D., CFP ® , CFCS. Professor & Extension Family Economics Specialist Department of Agricultural Economics & Economics. How many of you have used a financial calculator?????.

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Financial calculators l.jpg

Financial Calculators

ILX Lightwave

May 14, 2003


Marsha a goetting ph d cfp cfcs l.jpg

Marsha A. Goetting Ph.D., CFP®, CFCS

Professor & Extension Family Economics Specialist

Department of Agricultural Economics & Economics


How many of you have used a financial calculator l.jpg

How many of you have used a financial calculator?????


Everyone can learn to use a financial calculator l.jpg

Everyone can learn to use a financial calculator


Purpose experience how financial calculator can help you make deci ion about your finances l.jpg

PurposeExperience How Financial Calculator Can Help You Make Deci$ion$ About Your Finances


Savings investments l.jpg

Savings & Investments


Credit l.jpg

Credit


House buying l.jpg

House Buying


Car purchase l.jpg

Car Purchase


College education l.jpg

College Education


Retirement planning l.jpg

Retirement Planning


Financial calculator l.jpg

Financial Calculator

  • Texas Instruments BA-35 Solar Business Analyst

  • Cost about $20 at most discount stores


Introduction l.jpg

Introduction

  • Getting Acquainted with your Financial Calculator


Turn on l.jpg

Turn on

CE/C

Fix

MODE

AC/ON

2nd

CPT

x 12

¸ 12

PV

PMT

N

% i

FV


Financial mode l.jpg

Financial Mode

  • If FIN is not lower left corner

  • Press

CPT

AC/ON

MODE

Fin 0.


Decimal function l.jpg

Decimal Function

Fix

  • Press

2nd

CPT

2

FIN 0.00

2nd


Clearing screen display l.jpg

Clearing Screen/Display

  • Press key once

  • Clears Display

  • Corrects Incorrect Entries

  • Clears word “Error”

CE/C


Clearing financial registers l.jpg

Clearing Financial Registers

CMR

  • Press key

  • Clears numbers in registers & display

2nd

CE/C

CE/C

N

%i

PV

PMT

FV


Finance keys l.jpg

Finance Keys

N

Number of Periods

Interest Rate

Payment Amount

% i

PMT


Finance keys20 l.jpg

Finance Keys

PV

Present Value

Future Value

Compute key

FV

CPT


Lump sum savings l.jpg

Lump Sum Savings


Finance key l.jpg

Finance Key

PV

Present Value

Value of the $avings you have today


How much will 10 000 grow to l.jpg

How much will $10,000 grow to?

PV


Future value 10 000 l.jpg

Future Value $10,000

  • Clear registers 2nd CE/C CE/C

  • Enter PV 10,000 PV

  • Enter # Periods 20 N

  • Enter % Rate 3 %i

  • CPT FV18,061.11


Future value 15 000 l.jpg

Future Value $15,000

  • Clear registers 2nd CE/C CE/C

  • Enter PV 15,000 PV

  • Enter # Periods 5 N

  • Enter % Rate 6.25 %i

  • CPT FV20,311.22


Future value 50 000 l.jpg

Future Value $50,000

  • Clear registers 2nd CE/C CE/C

  • Enter PV 50,000 PV

  • Enter # Periods 40 N

  • Enter % Rate 5 %i

  • CPT FV351,999.44wait


What if l.jpg

What if ?????

  • You want to know what the amount will grow to in 15 years instead of 40….just change the

N


Future value 15 years l.jpg

Future Value 15 years

  • Clear registers 2nd CE/C CE/C

  • Enter PV 50,000 PV

  • Enter # Periods15 N

  • Enter % Rate 5 %i

  • CPT FV 103,946.41


The difference l.jpg

The difference

  • 40 yrs = $351,999.43

  • 15 yrs = $103,946.41

$248,053.02


Lump sum savings30 l.jpg

Lump Sum Savings


Solving for future value of annual regular deposits l.jpg

Solving for Future Value of AnnualRegular Deposits


Cds iras passbook l.jpg

CDs, IRAs, Passbook


Payments deposits l.jpg

Payments (Deposits)

  • Enter deposit amount as a negative value

  • 2,000

  • Screen: -2,000.00

+/-

PMT


Ira single person l.jpg

IRA(single person)

  • $2,000 per year for 26 years

  • What amount will be in his IRA?


Ira single person35 l.jpg

IRA(single person)

  • Clear registers 2nd CE/C CE/C

  • Enter PMT2,000 +/- PMT

  • Enter # Periods 26 N

  • Enter % Rate 5 %i

  • CPT FV 102,226.91


Ira married couple l.jpg

IRA(married couple)

  • $2,000 each per year for 25 years

  • What amount will be in their IRAs?


Ira married couple37 l.jpg

IRA--Married Couple

  • Clear registers 2nd CE/C CE/C

  • Enter PMT4,000 +/- PMT

  • Enter # Periods 25 N

  • Enter % Rate 11 %i

  • CPT FV457,653.23(hold)


What if38 l.jpg

What if ?????

  • Interest rate is only 4% instead of 11%….just change the amount in

% i


Ira married 4 l.jpg

IRA--Married 4%

  • Clear registers 2nd CE/C CE/C

  • Enter PMT4,000 +/- PMT

  • Enter # Periods 25 N

  • Enter % Rate 4 %i

  • CPT FV 166,583.63


The difference40 l.jpg

The difference

  • 11% = $457,653.23

  • 4% = $166,583.63

$291,069.63


Roth ira l.jpg

Roth IRA

  • After-tax dollars

  • Accumulations can be withdrawn tax-free if:

    • age 59 1/2

    • held for 5 years


Roth ira42 l.jpg

Roth IRA

  • $3,000 per year for 40 years

  • What amount will be in the Roth IRA?


Roth ira43 l.jpg

Roth IRA

  • Clear registers 2nd CE/C CE/C

  • Enter PMT3,000 +/- PMT

  • Enter # Periods 40 N

  • Enter % Rate 5 %i

  • CPT FV $362,399.32


Roth ira44 l.jpg

Roth IRA

  • $3,000 per year for 20 years.

  • What amount will be in the Roth IRA?


Roth ira45 l.jpg

Roth IRA

  • Clear registers 2nd CE/C CE/C

  • Enter PMT3,000 +/- PMT

  • Enter # Periods 20 N

  • Enter % Rate 6 %i

  • CPT FV $110,356.77


Summary annual regular deposits l.jpg

Summary: Annual Regular Deposits


New problem l.jpg

New Problem:

  • How much will we have in the future if we add annually to our present savings?


Beginning balance add annually l.jpg

Beginning Balance: Add Annually


Annual deposits with beginning balance 10 000 l.jpg

Annual Deposits with Beginning Balance$10,000

  • Clear registers 2nd CE/C CE/C

  • Enter PV (Beg. Bal.) 10,000 PV

  • Enter PMT 2,000 +/- PMT

  • Enter % Rate 5 %i

  • Enter # Periods 7 N

  • CPT FV 30,355.02 (hold)


What if50 l.jpg

What if ?????

  • Interest rate is only 3% instead of 5%

  • Just change the interest rate

% i


Annual deposits with beginning balance 10 00051 l.jpg

Annual Deposits with Beginning Balance$10,000

  • Clear registers 2nd CE/C CE/C

  • Enter PV (Beg. Bal.) 10,000 PV

  • Enter PMT 2,000 +/- PMT

  • Enter % Rate 3 %i

  • Enter # Periods 7 N

  • CPT FV 27,623.66


Difference rate l.jpg

Difference % rate

  • 5% = $30,355.02

  • 3% = $27,623.66

$2,731.36


Education fund 1 000 add annually 2 500 l.jpg

Education Fund--$1,000 Add annually $2,500

  • Clear registers 2nd CE/C CE/C

  • Enter PV (Beg. Bal.) 1,000 PV

  • Enter PMT 2,500 +/- PMT

  • Enter % Rate 6.5 %i

  • Enter # Periods 18 N

  • CPT FV 84,131.82


Retirement fund 15 000 add annually 1 200 l.jpg

Retirement Fund--$15,000 Add annually $1,200

  • Clear registers 2nd CE/C CE/C

  • Enter PV (Beg. Bal.) 15,000 PV

  • Enter PMT 1,200 +/- PMT

  • Enter % Rate 8.5 %i

  • Enter # Periods 25 N

  • CPT FV 209,702.79


Summary solved for future value when have beginning balance add annually l.jpg

Summary: Solved for Future Value when have Beginning Balance & Add Annually


Monthly savings l.jpg

Monthly Savings


Convert 2 items l.jpg

Convert 2 items

  • Interest Rate

  • # of Periods

% i

N


Annual interest rate l.jpg

Annual Interest Rate

  • 18.5 % Annual Percentage Rate

  • Convert to monthly


Monthly interest rate l.jpg

Monthly Interest Rate

  • Divide interest rate by 12

    • 18.5 ¸ 12 =1.54

    • Then press

%i


Of periods monthly l.jpg

# of Periods-Monthly

  • Multiply number of years by 12

  • 6 yearsx 12 = 72

  • Then press

N


Grandparents l.jpg

Grandparents

  • Save $5 each month for 18 years


5 per month l.jpg

$5 per month

  • Clear registers 2nd CE/C CE/C

  • Enter PMT5 +/- PMT

  • # Periods18 x 12 = 216 N

  • % Rate5.5 ¸ 12 = 0.46 %i

  • CPT FV 1,838.35


Aunts uncles 60 l.jpg

Aunts & Uncles $60


60 per month l.jpg

$60 per month

  • Clear registers 2nd CE/C CE/C

  • Enter PMT60 +/- PMT

  • # Periods18 x 12 = 216 N

  • % Rate6.5 ¸ 12 = 0.54 %i

  • CPT FV 24,500.33


Save 100 l.jpg

Save $100

  • Each month for 30 years


100 each month l.jpg

$100 each month

  • Clear registers 2nd CE/C CE/C

  • Enter PMT100 +/- PMT

  • # Periods 30 x 12 = 360 N

  • % Rate5.5¸12 = 0.46 %i

  • CPT FV 91,361.19


Saving for down payment l.jpg

Saving for down payment


Monthly savings68 l.jpg

Monthly Savings

  • Clear registers 2nd CE/C CE/C

  • Enter PMT600 +/- PMT

  • # Periods 5 x 12 = 60 N

  • % Rate9.5 ¸ 12 = 0.79 %i

  • CPT FV 45,853.35


Add to retirement fund monthly l.jpg

Add to Retirement Fund Monthly


Retirement fund 15 000 add monthly 100 l.jpg

Retirement Fund--$15,000 Add monthly-- $100

  • Clear registers 2nd CE/C CE/C

  • Enter PV (Beg. Bal.) 15,000 PV

  • Enter PMT 100 +/- PMT

  • % Rate 5 ¸ 12 = 0.42 %i

  • # Periods 25 x 12 = 300 N

  • CPT FV 111,770.33


Future value savings l.jpg

Future Value Savings

  • Lump Sum Savings

  • Annual Savings

  • Monthly Savings

  • Beginning balance & add yearly or monthly


Alternatives l.jpg

Alternatives

Bank

Credit

Union

Savings &

Loan


Which pays more l.jpg

Which pays more?

  • 5.80% compounded quarterly

  • 5.75 % cp monthly

  • 5.50% cp daily


Converting l.jpg

Converting

  • Annual Percentage Rate (APR) to

  • Annual Effective Yield (AEY)


Eff key l.jpg

EFF Key

CE/C

Fix

CPT

MODE

AC/ON

2nd

EFF

2

3

RCL

1


5 8 compounded quarterly l.jpg

5.8compounded quarterly

  • Clear 2nd CE/C CE/C

  • Enter interest rate 5.8

  • Press 2nd EFF

  • Enter # cp 4

  • Press = 5.93

1


5 75 compounded monthly l.jpg

5.75compounded monthly

  • Clear 2nd CE/C CE/C

  • Enter interest rate 5.75

  • Press 2nd EFF

  • Enter # cp 12

  • Press = 5.90

1


5 5 compounded daily l.jpg

5.5compounded daily

  • Clear 2nd CE/C CE/C

  • Enter interest rate 5.5

  • Press 2nd EFF

  • Enter # cp 365

  • Press = 5.65

1


Which account pays most l.jpg

Which account pays most?

  • 5.8 % cp quarterly = 5.93

  • 5.75 % cp monthly = 5.90

  • 5.5 % cp daily = 5.65


Annual deposits with beginning balance 10 00080 l.jpg

Annual Deposits with Beginning Balance$10,000

  • Clear registers 2nd CE/C CE/C

  • Enter PV (Beg. Bal.) 10,000 PV

  • Enter PMT 2,000 +/- PMT

  • Enter % Rate 5.93 %i

  • Enter # Periods 20 N

  • CPT FV104,670.38 (hold)


Annual deposits with beginning balance 10 00081 l.jpg

Annual Deposits with Beginning Balance$10,000

  • Clear registers 2nd CE/C CE/C

  • Enter PV (Beg. Bal.) 10,000 PV

  • Enter PMT 2,000 +/- PMT

  • Enter % Rate 5.65 %i

  • Enter # Periods 20 N

  • CPT FV 100,880.77


Difference 20 yrs l.jpg

Difference 20 yrs

  • 5.93 = $104,670.38

  • 5.65 = $100,880.77

$3,389.61


Credit83 l.jpg

Credit


Credit card l.jpg

Credit Card

  • Average balance

    • $1,825bank credit card

  • 18% APR


Credit card85 l.jpg

Credit Card

  • Pay $28minimum payment

  • How long to pay off??????


28 monthly payment l.jpg

$28 monthly payment

  • 21 years

  • 16 years

  • 11 years

  • 5 years


Interest paid l.jpg

Interest Paid

  • $5,325

  • $3,460

  • $2,377

  • $ 956


Credit card 1 825 l.jpg

Credit Card $1,825

  • Clear registers 2ndCE/CCE/C

  • Credit balance1,825 PV

  • % Rate18 ¸ 12 = 1.5 %i

  • Payment 28 PMT

  • CPT N 255.38 months

  • ¸ 12 = 21.28 yrs (Don’t clear)


Compute interest paid l.jpg

Compute interest paid

  • Press again:

  • CPT N 255.38

  • # of monthly payments


Interest paid90 l.jpg

255.38 months

x $28 payments

$ 7,150.55 paid back

-$ 1,825.00 loan

Interest Paid


Interest paid91 l.jpg

$5.3255.55 paid in interest over 21.28 years

Interest Paid


Credit cards l.jpg

Credit Cards

  • Donna’s Balance $6,500

  • APR 19%

  • $130 payments


How long to pay off l.jpg

How long to pay off?

  • Clear registers 2nd CE/C CE/C

  • Loan Amount 6,500 PV

  • Payment 130 PMT

  • % Rate19 ¸ 12 = 1.58 %i

  • CPT N (months) 99.85

  • ¸12 = 8.32 years (don’t clear)


Compute interest paid94 l.jpg

Compute interest paid

  • Press again:

  • CPT N 99.85

  • # of monthly payments


Interest paid95 l.jpg

99.85 months

x $130 payments

$ 12,980.86 paid back

- 6,500.00 credit balance

Interest Paid


Interest paid96 l.jpg

$6,480.86 interest paid by Donna over 8.32 yrs.

Interest Paid


Increase payment l.jpg

Increase payment

  • Old payment

    • $130

  • New payment

    • $230


How long to pay off98 l.jpg

How long to pay off?

  • Clear registers 2nd CE/C CE/C

  • Loan Amount 6,500 PV

  • Payment 230 PMT

  • % Rate19 ¸ 12 = 1.58 %i

  • CPT N (months) 37.76

  • ¸12 = 3.15 years


Compute interest paid99 l.jpg

Compute interest paid

  • Press again:

  • CPT N 37.76

  • # of monthly payments


Interest paid100 l.jpg

37.76 months

x $230 payments

$ 8,685.58 paid back

- 6,500.00 credit balance

Interest Paid


Interest paid101 l.jpg

$2, 185.58 interest paid by Donna over 3.15 yrs.

Interest Paid


The difference102 l.jpg

The difference

  • $130 8.32 yrs = $6,490.86

  • $230 3.15 yrs = $2,185.58

$4,305.28


Central idea l.jpg

Central Idea

  • Paying off credit card balance sooner means higher payments, but

    • you pay less INTERE$T


Dream home l.jpg

Dream Home

  • Average price

    • $135,000

  • Down payment

    • $27,000


Payment amount l.jpg

Payment Amount?

  • Finance $108,000

  • APR 9.5%

  • 30 year mortgage


Payment l.jpg

Payment?

  • Clear registers 2nd CE/C CE/C

  • Loan Amount 108,000 PV

  • # Periods30 x 12 = 360 N

  • % Rate 9.5 ¸ 12 = 0.79 %i

  • CPT PMT 908.12


Cheaper home l.jpg

Cheaper Home

  • Finance $66,000

  • APR 13%

  • 30 year mortgage


Payment108 l.jpg

Payment?

  • Clear registers 2nd CE/C CE/C

  • Loan Amount 66,000 PV

  • # Periods 30 x 12 = 360 N

  • % Rate13 ¸ 12 = 1.08 %i

  • CPT PMT 730.09 (hold)


Young professionals l.jpg

Young Professionals

  • What if we pay an extra $100 towards principal each month ?


Extra 100 l.jpg

Extra $100

  • Clear registers 2nd CE/C CE/C

  • Loan Amount66,000 PV

  • Payment 830.09 PMT

  • % Rate13 ¸ 12 = 1.08 %i

  • Compute months CPT N 183.37

  • ¸12 =15.28 yrs


Comparison l.jpg

$730

30 yrs

$830

15.28 yrs

Comparison


Payment comparison l.jpg

$730.09 Monthly

x 360 # payments

$262,833 Paid Back

- $66,000 Loan

$196,833 Interest

$830.09 Monthly

x 183.37 # payments

$152,213 Paid Back

-$66,000 Loan

$86,213 Interest

Payment Comparison

$110,620 saved


Credit examples l.jpg

Credit Examples

  • Payments on Mortgage & Credit Cards

  • Time remaining on loans if increase payments

  • Calculate monthly interest charge


Retirement planning114 l.jpg

Retirement Planning


Retirement decisions l.jpg

Retirement Decisions

  • How much should I save for retirement?


Retirement goal l.jpg

Retirement Goal

  • $500,000

  • By age 65

    • 40 years

  • How much to save monthly?


Goal 500 000 l.jpg

Goal: $500,000

  • Clear registers 2nd CE/C CE/C

  • Enter FV 500,000 FV

  • % Rate8 ¸ 12 =0.67 %i

  • # Periods 40 x 12 = 480 N

  • CPT PMT- 143.23(don’t clear)


Note the minus l.jpg

If you save $143.23 every month, you will have $500,000 in 40 years

Note the minus


What if119 l.jpg

What if ?????

  • You already have $18,000 in savings that you have designated for retirement?

  • Now you have

PV


500 000 18 000 l.jpg

$500,000($18,000)

  • Clear registers 2nd CE/C CE/C Enter FV 500,000 FV

  • Enter PV18,000 PV

  • % Rate 8 ¸ 12 = 0.67 %i

  • # Periods 40 x 12 = 480 N

  • CPT PMT - 18.07 (hold)


Note the minus 18 07 l.jpg

If you save $18.07 every month, you will have $500,000 because you started with $18,000

Note the minus -18.07


What if122 l.jpg

What if ?????

  • You already have $90,000 in savings that you have designated for retirement?


500 000 90 000 l.jpg

$500,000($90,000)

  • Clear registers 2nd CE/C CE/C

  • Enter FV 500,000 FV

  • Enter PV90,000 PV

  • % Rate 8 ¸ 12 = 0.67 %i

  • # Periods 40 x 12 = 480 N

  • CPT PMT 482.56


Note there is no minus l.jpg

You can start withdrawing $482.46 every month & you will still have $500,000 in 40 years

Note there is no minus


Goal 300 000 l.jpg

Goal:$300,000

  • Retire 20 yrs

  • Has $5,000

  • How much to save monthly?


300 000 5 000 l.jpg

$300,000($5,000)

  • Clear registers 2nd CE/C CE/C

  • Enter FV 300,000 FV

  • Enter PV 5,000 PV

  • % Rate 8 ¸ 12 = 0.67 %i

  • # Periods 20 x 12 = 240 N

  • CPT PMT - 467.50


Goal 100 000 l.jpg

Goal: $100,000

  • Retire 10 yrs

  • Has $15,000

  • How much to save monthly?


Goal 100 000128 l.jpg

Goal: $100,000

  • Clear registers 2nd CE/C CE/C

  • Enter FV 100,000 FV

  • Enter PV 15,000 PV

  • % Rate 5 ¸ 12 = 0.42 %i

  • # Periods 10 x 12 = 120 N

  • CPT PMT - 484.89


Retired couple l.jpg

Retired Couple

  • “How much can we take out of our retirement fund monthly if we want it to last 20 years?”


Retirement fund 115 000 l.jpg

Retirement Fund $115,000

  • Clear registers 2nd CE/C CE/C

  • Retirement Fund 115,000 PV

  • # Periods 12 x 20 = 240 N

  • % Rate4 ¸ 12 = 0.33 %i

  • CPT PMT 696.88


Single person l.jpg

Single Person

  • Retirement fund $250,000

  • Last 30 years


250 000 30 yrs l.jpg

$250,000 (30 yrs)

  • Clear registers 2nd CE/C CE/C

  • Retirement Fund 250,000 PV

  • # Periods 12 x 30 = 360 N

  • % Rate 5 ¸ 12 = 0.42 %i

  • CPT PMT 1,342.05


Slide133 l.jpg

IRA

  • $50,000

  • Supplement Social Security for 20 years


50 000 ira l.jpg

$50,000 IRA

  • Clear registers 2nd CE/C CE/C

  • Retirement Fund 50,000 PV

  • # Periods 12 x 20 = 240 N

  • % Rate4 ¸ 12 = 0.33 %i

  • CPT PMT302.99


Retired couple135 l.jpg

Retired Couple

  • “How long will our retirement fund ($100,000) last if we take out $1,200 monthly?”


100 000 fund l.jpg

$100,000 fund

  • Clear registers 2nd CE/C CE/C

  • Retirement Fund 100,000 PV

  • Payment 1,200 PMT

  • % Rate 4 ¸12 = 0.33 %i

  • Compute months CPT N 97.79

  • ¸ 12 = 8.15 yrs (don’t clear)


100 000 fund137 l.jpg

$100,000 fund

  • Clear registers 2nd CE/C CE/C

  • Retirement Fund 100,000 PV

  • Payment 900 PMT

  • % Rate 4 ¸12 = 0.33 %i

  • Compute months CPT N 139.02

  • ¸ 12 = 11.58 (don’t clear)


100 000 fund138 l.jpg

$100,000 fund

  • Clear registers 2nd CE/C CE/C

  • Retirement Fund 100,000 PV

  • Payment 650 PMT

  • % Rate 4 ¸12 = 0.33 %i

  • Compute months CPT N 216.10

  • ¸ 12 = 18.01 years


The difference139 l.jpg

The difference

  • $1,200 monthly = 8.15 yrs

  • $ 900 monthly = 11.58 yrs

  • $ 650 monthly = 18.01 yrs


Retirement planning140 l.jpg

Retirement Planning

  • Summary


Retirement l.jpg

Retirement

  • Amount to save monthly to achieve retirement goals


Retirement142 l.jpg

Retirement

  • Amount to take out monthly during retirement based on life expectancy


Retirement143 l.jpg

Retirement

  • How long retirement fund will last if take out specific amount monthly


Inflation l.jpg

Inflation

1999 2.2%


Inflation145 l.jpg

Inflation

  • If I need $1,500 per month now …. how much will I need in 25 years????


Inflation146 l.jpg

INFLATION

  • Clear registers 2nd CE/C CE/C

  • Enter PV 1,500 PV

  • Enter # Periods 25 N

  • Enter % Rate 6.3 %i

  • CPT FV6,909.12 (hold)


What if147 l.jpg

What if ?????

  • Inflation is only 4.2% instead of 6.3%.….just change the inflation rate key

% i


Inflation example l.jpg

INFLATION EXAMPLE

  • Clear registers 2nd CE/C CE/C

  • Enter PV 1,500 PV

  • Enter # Periods 25 N

  • Enter % Rate 4.2 %i

  • CPT FV 4,195.50


Difference 15 yrs l.jpg

Difference 15 yrs

  • 6.3% = $6,909.12

  • 4.2% = $4,195.50

$2,713.62


Inflation150 l.jpg

Inflation

  • If we need $2,000 per month now …. how much will we need in 15 years?


Inflation example151 l.jpg

INFLATION EXAMPLE

  • Clear registers 2nd CE/C CE/C

  • Enter PV 2,000 PV

  • Enter # Periods 15 N

  • Enter % Rate 4 %i

  • CPT FV3,601.89


Inflation152 l.jpg

Inflation

  • If I need $2,500 per month now …. how much will I need in 25 years?


Inflation example153 l.jpg

INFLATION EXAMPLE

  • Clear registers 2nd CE/C CE/C

  • Enter PV 2,500 PV

  • Enter # Periods 25 N

  • Enter % Rate 4.25 %i

  • CPT FV7,076.88


Slide154 l.jpg

$$$$$$$$$$$$How a Financial Calculator Can Help You Make Deci$ion$


Marsha a goetting ph d cfp cfcs155 l.jpg

Marsha A. Goetting Ph.D., CFP®, CFCS

Professor & Extension Family Economics Specialist

Department of Agricultural Economics & Economics


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