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˜ Skip PMT, since we will be solving for it
0 @@OK@@ Enter FV = 0, the option
End is highlighted
@@CHOOS !—@@OK@@ Change payment option to Begin
— š @@SOLVE! Highlight PMT and solve for it
The screen now shows the value of PMT as –38,921.47, i.e., the borrower must
pay the lender US $ 38,921.48 at the beginning
of each month for the next 60
months to repay the entire amount. Notice that the amount the borrower pays
monthly, if paying at the beginning of each payment period, is slightly smaller
than that paid at the end of each payment period. The reason for that
difference is that the lender gets interest earnings from the payments from the
beginning of the period, thus alleviating the burden on the lender.
Deleting the variables
When you use the financial calculator environment for the first time within the
HOME directory, or any sub-directory, it will generate the variables @@@N@@ @I©YR@
@@PV@@ @@PMT@@ @@PYR@@ @@FV@@ to store the corresponding terms in the calculations.. You
can see the contents of these variables by using:
‚@@ @n@@ ‚@I©YR@ ‚@@PV@@ ‚@@PMT@@ ‚@@PYR@@ ‚@@FV@@.
You can either keep these variables for future use, or use the PURGE function to
erase them from your directory. To erase all of the variables at once
, if using
ALG mode, try the following:
I@PURGE J „ä Enter PURGE, prepare list of variables
³‚@@@n@@ Enter name of variable N
™ ‚í Enter a comma
³ ‚@I©YR@ Enter name of variable I%YR
™ ‚í Enter a comma
³ ‚@@PV@@ Enter name of variable PV
™ ‚í Enter a comma
³ ‚@@PMT@@ Enter name of variable PMT
Notes:
1. The financial calculator environment allows you to solve for any of the terms
involved, i.e., n, I%YR, PV, FV, P/Y, given the remaining terms in the loan
calculation. Just highlight the value you want to solve for, and press @@SOLVE!.
The result will be shown in the highlighted field.
2. The values calculated in the financial calculator environment are copied to
the stack with their corresponding tag (identifying label).