Identifying a "Mystery" Financial Calculator
Clear your calculator's financial registers. (If your calculator uses a
periods/year variable, clearing should reset that variable to 12.)
Enter the following values, all as positive numbers.
|N = 10||I = 1||PMT = 50||PV = 1000||FV = ???|
Now compute the future value.
|Your answer for FV:||Rate||Positive Payment||Future Balance||Convention|
- Basic convention calculators represent payments which
increase the balance of an account as positive payments, and future
values are given as balances in that account.
- Standard convention calculators represent payments
which increase the balance of an account as positive payments, and
future values are treated as amounts which can be withdrawn from the
- Loan convention calculators represent payments which
decrease the balance of an account as positive payments (making loan
computations easier), and future values are given as balances in that