*Simple Finance Help*

[FlySi]

"Joanne puts $200 every month into an account that pays 8%, compounded monthly, for 15 years. How much does she have in 15 years?"

I'm using the TI-83 TVM solver. It has these variables:

N: number of payments
I%: Interest
PV: Present Value
PMT: Payment each period
FV: Future value
P/Y: # of payments/year
C/Y: # of compounding periods/year

Any help is much appreciated. I get $69,207.64, but i'm not entirely convinced that it's right.

[silvercivicsir]

that's what i get.. for an answer..

200 dollars, N = 15*12 since it's compounding monthly, pv =0, and I%= 8%/12

[GQBalla]

i got the same for the answer...i was suprised i could still do this i haven't done any type of math in like 6 months

[Gainsbarre]

Yeah, the answer is $69,207.64...
N = 180 (12*15)
I = 8%
PV = 0
PMT = -200
P/Y = 12
C/Y = 12
Solve for FV...