I lent $1,200 for 2 months at 5% annual simple interest. What is the future value of this loan?
thanks
Posts Tagged ‘Simple’
I lent $1,200 for 2 months at 5% annual simple interest. What is the future value of this loan?
25
May
How do I calculate simple interest with a BA II Plus?
14
May
The Professor gave us this example and the answer is $13.80
Future value of $10 deposit earning simple rate of interest of 7.6% per year at the end of the 5th year. When I do the calculations using time value of money in a BA II Plus, I get a 14.42.
I only get the right answer if I multiply 10.00 by 0.076, then multiply that by 5 years and finally add 10.00.
I have checked the payments per year setting and it is in 1.
How do you calculate simple present value using a financial calculator?
19
Apr
I already know the formula for calculating PV. What I want to know is how you would use a financial calculator to solve a question such as…
What is the present value of $250 to be paid in 2 years if the interest rate is 15%?
I know the answer is $189.04. What I don’t know is how to come up with this answer using my calculator instead of solving the formula by hand. Please tell me how to plug this in.
Can I/we take money out of a Simple IRA at work (spouse)and use it for my Graduate Schooling? Even under 2yrs?
31
Mar
My spouse’s work is setting up a simple IRA for work. It will be 100 percent matched up to 3% of her salary, and vested instantly. Unfortunately I will be going on rotations for school soon, and we will be moving away from the area. So the total amount that she will be putting away will be roughly $800 (which will be matched to 1600) We dont really like any of the investment choices, and the administrating company will be charging a fee, as well as the fund where the money is put. We would rather use it for my school bill next year (which runs about about 27,000yr not including living expenses) and use money that we would have put into the school bill to open her a retirement account (probably a roth, we dont make enough to get even close to having the money to be putting the max away). Can this be done without any penalty (i.e. the extra 10% surcharge taken on early disbursements) Can the company someone-how keep us from withdrawing the money if we dont keep it for 2 yrs? Thanks all!!