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Miscellaneous Programs and Equations
17–5
File name 33s-English-Manual-040130-Publication(Edition 2).doc Page : 388
Printed Date : 2004/1/30 Size : 13.7 x 21.2 cm
Part 2. What interest rate would reduce the monthly payment by $10
?
Keys:
(In RPN mode)
Display: Description:
º
d
Displays the leftmost hart of the
TVM equation.
Û
I
Selects I; prompts for P.
¹
f
Rounds the payment to two
decimal places.
10
Ù
Calculates new payment.
¥
Stores –176,89 in P; prompts for
N.
¥
Retains 36 in N; prompts for F.
¥
Retains 0 in F; prompts for B.
¥
Retains 5750 in B; calculates
monthly interest rate.
12
¸
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
?
Note that the interest rate, I, from part 2 is not zero, so you won't get a
error when you calculate the new I.
Keys:
(In RPN mode)
Display: Description:
º
d
Displays leftmost part of the TVM
equation.
Û
F
Selects F; prompts for P.