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Example 2: Solving for payment amount.
For 8 years you wish to make weekly deposits in a savings account paying
5.5% compounded quarterly. What amount must you deposit each week
to accumulate $6000.
Example 3: Solving for number of payment periods.
You can make weekly deposits of $10 in to an account paying 5.25%
compounded daily (365-day basis). How long will it take you to
accumulate $1000?
7
25
2,519.61 Future value.
Keystrokes Display
CLEAR
5.5
4
100
52
CLEAR
0.11 Equivalent periodic interest rate.
8 52
6000
-11.49 Periodic payment.
Keystrokes Display
CLEAR
5.25
365
100
52
CLEAR
0.10 Equivalent periodic interest rate.
8
1000
96.00 Weeks.