FV Calculation

CFA Level I Portfolio Management
#1

Hello all - It has been a while since I picked up a HP 12C and would love some help remembering a very simple calculation.

If person A has $57K, has 7 years to invest, contributes $500/month (for 7 years), at an interest of 7%/year, what is the future value at the end of 7 years? Trying to remember how to correctly input the values using “n”, “i”, “PV”, “PMT”, and “FV” into my 12C.

Thank you!!

#2

n=7*12=84

i=7/12

PV=57000

PMT=500

(Both PV and PMT have the same sign because they are both inflows)

CPT FV (this will be negative)