Table
Keys | Display | Description |
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:É | 0.00 | Enters amount left to pay |
| after 36 payments. | |
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Ì | Calculates the payment | |
| amount. | |
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Automobile Loan
Example
You are buying a new 14,000.00 sedan. Your down payment is 1,500 and you are going to finance the remaining 12,500. The car dealer is offering two choices for financing:
•A
•A
With which choice do you pay less for the car?
Set to End mode. Press \¯if BEGIN annunciator is displayed.
Calculate the first option:
| Table | Calculating the annual interest rate of 3.5% |
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| Display | Description | ||
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| JG\Í | 12.00 | Sets payments per year. | |||
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| DSÙ | 36.00 | Stores known values. | |||
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| JGV::Ï | 12,500.00 | Stores loan amount. | |||
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:É |
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| D7VÒ | 3.50 | Stores first interest rate. | |||
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Ì |
| Calculates payment. | ||||
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| PvÙ4 | Calculates total interest and | ||||
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Calculate the second option: |
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| Table | Calculating the annual interest rate of 9.5% |
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| JJV::Ï | 11,500.00 | Stores loan amount with rebate. | ||
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Additional Examples 145