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68 5: Time Value of Money
File name : 17BII-Plus-Manual-E-PRINT-030709 Print data : 2003/7/11
Keys: Display: Description:
"
]
" Displays TVM menu.
@c
#$ 5?@2 H<A 0EAH" Clears history stack and
TVM variables.
.
@c
e
"
"
#$ 5?@2 H<A 0EAH"
If needed: sets 12
payment periods per year;
End mode.
3
*
12
T
"
<8%'&(("
Figures and stores number
of payments.
10.5
U
;6@28#(&.(" Stores annual interest rate.
7250
-
1500
V
"
5O8.K-.(&(("
Stores amount of the loan.
W
50:8/#*'&*," Calculates payment.
Negative value means
money to be paid out.
To calculate the interest rate that reduces the payment by $10, add 10
to reduce the negative PMT value.
+
10
W
50:8/#-'&*," Stores the reduced
payment amount.
U
;6@28'&-." Calculates the annual
interest rate.
Example: A Home Mortgage. After careful consideration of your
personal finances, you’ve decided that the maximum monthly mortgage
payment you can afford is $630. You can make a $12,000 down
payment, and annual interest rates are currently 11.5%. If you take out
a 30-year mortgage, what is the maximum purchase price you can
afford?
v
v
v