Savings Annuity Applications with the TVM Calculator
Solve the following problems. Round your results to the nearest cent as needed.
Dara is saving for a retirement by making regular monthly payments into an IRA. She deposits payments of
$50 at an interest rate of 8% for 19 years. How much will be in Dara's account at the end of 19 years?
Enter the values you need to put in the TVM calculator. Remember that money paid to the bank is
negative and money received from the bank is positive.
NOTE: Put the letter x in the answerbox for the unknown value in the appropriate box below. The
number solution will go in the final box in the last question.
PV=
Present Value
PMT=
N=
Number of Compounding Periods
1%=
Annual Interest Rate as a Percent
Payment
FV=
Future Value
P/Y and C/Y=
Payments per Year and/or
Compoundings per Year
Use the link to the TVM Calculator below to solve the problem.
Dara will have a total of $
dollars
TVM Calculator
at the end of 19 years.