You can use the TVM Solver on the TI-83 graphing calculator to find the future and the present value of money. In the context of a savings or investment account, the future value of your money is the amount of money in the account after a specified time period.

If you invest \$50,000 now and then add \$1,000 to the account each month, how much money will you have after 30 years? This question is asking for the future value of the account.

To find the future value, use the TVM Solver and follow these pointers:

• FV (future value):

This is the variable you’re solving for. You have to assign values to all variables except FV.

• PMT (amount of payment) and P/Y (payments per year).

• N (number of payments):

N is the number of years you have the account times P/Y.

In the context of a savings or investment account, the present value of money is the amount needed to generate a specific amount of money after a specified time period.

How much should you invest now so that the account will be worth at least \$1,000,000 in 30 years? This question asks for the present value of an account.

To find the present value, use the TVM Solver and follow these pointers:

• PV (present value):

This is the variable you’re solving for. Assign values to all variables except PV.

• FV (future value):

This is the amount of money you want to have in the account after the specified time period.

• PMT (amount of payment) and P/Y (payments per year).

• N (number of payments):

N is the number of years you have the account times P/Y.