Filter
Top Products
CASIO ClassPad 330 and ClassPad Manager Software Version 3.04
Copyright © 2009 CASIO COMPUTER CO., LTD. All Rights Reserved.
20
Using the Financial Application
Purchasing a Car
a. Tap m and then
b. Select Compound Interest
c. Tap the Help tap (very useful –
tap again to close)
d. Input the values shown (leave
PMT blank)
e. Tap the PMT or Solve in the
status bar to solve for your
monthly payment (you will need
to pay $412.49 per month)
Calculating Options
a. How would your monthly payment
change if you choose a less expensive
car?
b. Change 18000 to 15000
c. Tap the PMT button to recalculate
your monthly payment
d. Experiment with length of loan and
interest level!
Calculate Interest you will Pay
a. Open the Calculations menu and select
Amortization
b. Input 1 for PM1 and 48 for PM2
c. Scroll down (use the right scrollbar)
d. Tap the button (so you are really
paying $15,000+interest = $16499.68
for the car)
e. Assume you make a down payment of
$3000 and pay $400 per month. Set PV
to 12000 and PMT to -400. Tap
again (interest is now -993.2996078)