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What is Understanding Time Value of Money Concepts about?

Here are the steps to solve this problem: 1) Set the calculator to begin mode 2) Enter: i = 4.5% PMT = $2,000 PV = 0 FV = $50,000 3) Solve for n = number of periods The number of periods (years) to amass $50,000 with an annual deposit of $2,000 at 4.5% interest is 19 years.

Author

Andy Thibault-Milks

Language

EN