Can someone please explain how to do these on a financial calculator? I have my

Question

Can someone please explain how to do these on a financial calculator? I have my final tomorrow.

Question 2 1 pts You currently have $3,000 in an account and plan on depositing $2,500 into the account each year, starting in one year. If the account earns an annual interest rate of 6.70%. how much will be in the account in 5 years, after making your final deposit? O $16,672 O$17,377 O $18,740 O $16.741 $18.440 Question 3 1 pts You want to save $98,000 to buy an boat by making an equal, end of year payment into a brokerage account for the next 9 years. If you expect to earn a on your account, how much do you need to deposit each year into your account? n annual interest rate of 7.75% O $7,365 O $7,253 O $8,253 $8,063 $7,930

Explanation / Answer

2) N = 5, I/Y = 6.7%, PMT = 2,500, PV = 3,000 => Compute FV = $18,440 is the future value of deposit

3) N = 9, I/Y = 7.75%, PV = 0, FV = 98,000 => Compute PMT = $7,930 is the end of the year deposit.

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