Understanding the TI-84 TVM Solver for Annuities

This video tutorial demonstrates how to use the TI-84 TVM Solver to calculate the future value of an annuity. It covers setting up the solver with inputs such as interest rate, payment amount, and number of periods. The tutorial walks through solving for future value, calculating total payments made, and determining total interest earned over a 30-year period with monthly deposits and compounded interest.

What is the interest rate used in the example problem?

• 4%

• 3%

• 5%

• 2%

How often is the interest compounded in the given problem?

• Daily

• Monthly

• Quarterly

• Annually

What is the first step to access the TVM Solver on the TI-84 calculator?

• Press '2nd' and then 'Mode'

• Press 'Alpha' and then 'Enter'

• Press 'Apps' and then 'Enter'

• Press the 'Math' button

What value is entered for the present value in the TVM Solver?

• $72,000

• $0

• $16,540.38

• $200

What is the future value of the account after 30 years?

• $16,540.38

• $44,547.38

• $72,000

• $200

How much total money is deposited into the account over 30 years?

• $16,540.38

• $200

• $72,000

• $44,547.38

What is the formula used to calculate the total amount deposited?

• $200 * 360

• $200 * 30

• $200 + 3%

• $200 * 12 * 30

What is the total interest earned after 30 years?

• $200

• $16,540.38

• $72,000

• $44,547.38

How is the total interest calculated?

• Future value minus total deposits

• Interest rate times total deposits

• Future value plus total deposits

• Total deposits plus interest rate

What is the final account balance after 30 years?

• $200

• $16,540.38

• $44,547.38

• $72,000