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Calculator Solution

Present Value, P

245 1.003 54 1

Future Value, A

1395.41 1.003 54

Parentheses are not needed because exponentiation has precedence over multiplication.

Interest, I

1640.41 1395.41

Note: These solutions are shown for a TI-83 Plus calculator. On some other calculators (including the Windows scientific calculator), you'll need the following keystrokes:

245 1.003 54 1

1395.41 1.003 54

1640.41 1395.41