Figure 7 Cash flow diagram (Calculate PMT)

Set to End mode. Press \¯if BEGIN annunciator is displayed.

Table 6-2 Calculating the monthly payment

Keys

Display

Description

 

 

 

JG\Í

 

12 is the default).

 

12.00

Sets periods per year (optional, as

 

 

 

DPJGÙ

36.00

Stores number of periods in loan.

 

 

 

 

J:7VÒ

10.50

Stores annual nominal interest rate.

 

 

 

 

JYV::A

13,000.00

Stores amount borrowed.

JV::Ï

 

 

:É

Ì

Part 2

0.00Stores the amount left to pay after 3 years.

-422.53

Calculates the monthly payment.

 

The negative sign indicates money

 

paid out.

At a price of 14,500, what interest rate is necessary to lower your payment by 50.00, to 372.53?

Time Value of Money Calculations 63