Explaining the button inputs-future value in five years

Assignment Help Financial Management

Reference no: EM131815525

Please solve by explaining the button inputs on BA II Plus financial calculator.

1. At the age of 31 Jason takes 20,000 of his savings and makes a down payment on a $250,000 new house. He gets a 6.5% fixed rate, 30 year mortgage from Community Bank of Omaha.

Jason makes all his monthly mortgage payments for ten years. How much has he paid in principal and interest?

2. If Jason graduates from the school at the age of 25 and begins saving $500 a month at a rate of 6% compounded monthly, how much will he have saved by the age of 65?

3. What is the future value in five years of $500 invested today at 10% with annual compounding?

Reference no: EM131815525

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