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    Jfredricks33's Avatar
    Jfredricks33 Posts: 14, Reputation: 1
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    #1

    Feb 14, 2013, 01:09 PM
    Future Value Money
    Steve Madison needs 250,000 in 10 years. How much must he invest at the end of year year, at 11% interest, to meet his needs?

    This is what I'm getting out of it. FV = 250,000; I = 11; N = 10; payment = ?

    I can use my financial calulator and I know the answer is supposed to be 14,950 but I don't understand how to get that answer.

    HELP PLEASE! Thank you
    Jfredricks33's Avatar
    Jfredricks33 Posts: 14, Reputation: 1
    New Member
    		  
    #2

    Feb 14, 2013, 01:10 PM
    If someone could just explain what to type into my calculator that would be awesome!
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