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Chapter 6 Page 127
Finance buttons
Finance buttons enable you to find an unknown variable value based
on a group of known variable values.
For example, to calculate the monthly payment for a 30-year home
loan of $100,000 with an annual interest rate of 8%, you would enter
the following variables:
■ Payments/year = 12
■ N = 360 (30 years x 12 months)
■ APR = 8
■ PV = 100,000
■ FV = 0
Using these variables, the answer would be -733.76 per month.
To solve this example:
1. Enter a value and then tap the corresponding variable button.
Repeat this process until you’ve entered the following four
variables:
■ N = 360 (30 years x 12 months)
■ APR = 8
■ PV = 100,000
■ FV = 0
2. Enter 12 and tap the P/Yr button to enter the number of
payments/year.
3. Tap Edit.
4. Tap the Pmt line and erase all values on the line including zero.
5. Tap Solve.
6. Tap Done.
You can use a similar process to solve other financial equations by
entering four of the variables to find the value of the fifth variable.