SOLUTION: I can not get the answer to this question. I know that Input is N = 5; I = 7; PMT = -300; FV = ?. Output is PV = ?. However, I do not have a finance calculator. I do not have to a

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: I can not get the answer to this question. I know that Input is N = 5; I = 7; PMT = -300; FV = ?. Output is PV = ?. However, I do not have a finance calculator. I do not have to a      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 97952: I can not get the answer to this question. I know that Input is N = 5; I = 7; PMT = -300; FV = ?. Output is PV = ?. However, I do not have a finance calculator. I do not have to actually use a calculator for this class either.
What is the future value of a 5-year ordinary annuity that promises to pay you $300 each year? The rate of interest is 7 percent.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Using a TI-83 I get:
FV = $1725.22
PV = 0
==============
Cheers,
Stan H.