N = 15, I/Y = 7%, FV = 3,000; CPTPMT = $119.38(ignore the sign).
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Example:Suppose that you will deposit $100 at the end of each year for 5 years into an investment account. At the end of 5 years, the account will be worth $600. What is the rate of return?
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N = 5, FV = 600, PMT = 100; CPTI/Y = 7 years.
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Example:Solve for the PMT given a 13-year annuity with a discount rate of 6%, and a PV of $2,000.
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N = 13, I/Y = 6, PV = 2,000; CPT PMT = $225.92.
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Example:Suppose t