BA II Plus -Calculating Future Value with DATES | Compound Interest

John deposited $3500 on March 24, 2016 at an annual rate 4.5% compounded quarterly. Calculate the maturity on July 16, 2020.

[@vaguelyelena]

joshua you saved me after so many hours of trying to figure out why i couldnt get out of the p/y function. thank you. my instructor showed us quickly one time and just moved on. so thank you

[@joshemman]

Glad to hear. Thanks.

[@MiSs171148]

Josh, You have no idea how much this helps! I'm so excited to pass this finance module in my Masters program. Thank you so much!!--New Subbie :0)

[@yasirsindi5980]

Dear Joshua, The explanation is excellent. Its new to me the date issue, I didn't see any question on TVM such above question! but I will keep it in mine Thanks again bro

[@shrutimaheeshwari]

Seriously man, thank you again

[@christineosakwe1933]

Hello Joshua! thanks a lot for the video!! super helpful..I just have one concern/question, I was taught that for compounding interest calculations, "N" is always the number of years so in this case 4.315, and you only use the number of payments made during annuity for N when solving for annuity. Why did you use the number of periods for N instead of the number of years when you already inputed 4 periods as your C/Y.

[@odnyambayaraa6305]

Thank Josh, this helps! But dude u were supposed to convert annual rate of 4.5% to quarterly rate as dividing it by 4.

[@emilyam0ra]

Hi, Josh! Thank you for your video. May I ask why did you put 4 in P/Y?The sentence did not state that payments should be made quarterly.

[@jacobc5747]

when there are no payments, p/y = c/y.

[@AbelCornejoTrader]

How do I download the calculator to my mac? thanks

[@kurtchapman625]

Hi Joshua , is there a reason we do not round the 17.26 for number of periods? i figure we will be calculating some interest on a part period for which interest will not be paid. calculating only whole periods i.e 17 come out to 4233.15 - not a huge difference. just trying to get it right in my head. P.s love your videos, this is about my 10th today

[@joshemman]

Hi Kurt, fractional values of N are allowed for compound interest. If you round you may underestimate or overestimate the amount. If you delay paying your bill that is compounded monthly for 6 days, you will only be charged interest for those 6 days, not for the entire month. On the other hand, if a question requires you to find the number of payments, you may need to round to the nearest larger whole number for your final answer. Suppose you want to pay a $1000 loan by paying $100 monthly. If your calculation results in N = 13.2, then you have to make 14 payments. The 14th payment, however, will be less than $100.

[@kurtchapman625]

@@joshemman thanks for explaining. great videos, thanks again

[@Swagger0139]

what about 2024 is it 24 as the input or is it different because i get error