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Miscellaneous Programs and Equations 17–5
File name 32sii-Manual-E-0424
Printed Date : 2003/4/24 Size : 17.7 x 25.2 cm
36
f
@
value
Stores 36 in N; prompts for F.
0
f
@
value
Stores 0 in F; prompts for D.
7250
1500
@8)
Calculates B, the beginning loan
balance.
f
#
/.)
Stores 5750 in B; calculates
monthly payment, P.
The answer is negative since the loan has been viewed from the borrower's
perspective. Money received by the borrower (the beginning balance) is
positive, while money paid out is negative.
Part 2. What interest rate would reduce the monthly payment by $10
?
Keys: Display: Description:
{
G
Rºº1.1-
Displays the leftmost hart of the
TVM equation.
{
I
R@.)
Selects I; prompts for P.
z
I
R@.)
Rounds the payment to two
decimal places.
10
R@.)
Calculates new payment.
f
@)
Stores –176,89 in P; prompts for
N.
f
@)
Retains 36 in N; prompts for F.
f
@8)
Retains 0 in F; prompts for B.
f
#
/)
Retains 5750 in B; calculates
monthly interest rate.
12
y
)
Calculates annual interest, rate.
Part 3. Using the calculated interest rate (6.75%), assume that you sell the
car after 2 years. What balance will you still owe
?
In other words, what is the
future balance in 2 years
?