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Chapter 11: Financial Features
Try it! 2
If the monthly payments in the first example is limit to a fixed $800, how much
must be the present value (PV) and the required amount of down payment.
1. Press @ ; C 2 D 2
TAB is set to 2 and FSE is set to FIX.
2. Press C @ g
A and E .
The previous TVM-SOLVER
screen will appear with the
cursor flashing on N.
3. Press } three times to move the cursor to PMT.
4. Press _ 800 and E.
Be sure to enter the minus
sign to indicate payment.
5. Move the cursor to PV.
6. Press @ h.
7. PV will change to 149025.29
• This indicates that the total
amount over 30 years will
be $149,025.29 if the
maximum monthly pay-
ment is limited to $800.
Cash flow
PV = 300,000
–
down payment
FV = 0
N = 360
PMT = 800
Time flow
I = 5%
359358231
(
+
)
(
–
)
Set the TAB and
FSE (2 and FIX
respectively)