Unformatted text preview: Step 2 – raise natural number e to that power by pressing █ [ e x ] key (it’s the 1 key shifted) Step 3 – multiply by present value to get the future value Example, bottom of page 162, showing these steps: Key in: 0.08 x 2 = Press █ [ e x ] key to get 1.17351 Multiply: × 100 = You should get 117.351, or $117.35 Note: to get the effective annual rate of 8% continuously compounded, enter: 0.08 █ [ e x ] – 1 = 0.0833 or 8.33%. This is the fastest money can grow, given an 8% stated, or nominal, interest rate....
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 Spring '12
 JohnZietlow
 Finance, Compounding, 8%, quarterly compounding, $117.35, $116.99, $117.17

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