To determine the value of the fund after 11 years using a TI-84 financial calculator, you will follow these steps:

Step-by-Step Guide for Plugging into the TI-84:

1. Access the TVM Solver:

   • Press the 2nd button, then press the FINANCE button (above X^-1).
   • Scroll down to select TVM Solver (option 1).

2. Input the Known Variables:

   • N: Total number of years into the future you're solving for (11 years in this case). Since we're making payments annually, leave this as 11.
   • I%: This is the annual interest rate. Enter 4.9 for 4.9%.
   • PV (Present Value): Since the parents are starting from $0, enter 0.
   • PMT (Payment): This is the amount the parents deposit each year. Enter -1522.48 (negative because it's an outflow).
   • FV (Future Value): This would be $0 unless you want to adjust it. Leave it unchanged in this step.
   • P/Y (Payments per Year): Enter 1 since payments are made once per year.
   • C/Y (Compounding per Year): Also enter 1 since the interest is compounded annually.

3. Compute the Fund's Value After 11 Years:

   • After inputting the values, highlight the FV (Future Value) field.
   • Press ALPHA followed by ENTER to compute the future value.

This will give you the value of the fund after 11 years.

If you follow these steps correctly, the TI-84 will display the future value of the savings account after 11 years.

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Let me know if you need further details or help!

Here are 5 follow-up questions related to the previous topic:

1. How does changing the interest rate affect the amount saved?
2. What if the parents deposited at the beginning of each year instead of the end?
3. How would semi-annual compounding change the calculations?
4. What is the total amount deposited by the parents after 17 years?
5. What would the fund value be after 17 years if the interest rate was only 3%?

Tip: Always ensure the correct compounding period is selected on your financial calculator to avoid incorrect results!