Keys:

Display:

Description:

 

 

 

 

 

 

 

 

 

Display TVM menu.

 

 

@c

   

Clears history stack and

 

 

 

 

 

 

 

 

 

 

TVM variables.

 

 

 

 

 

If needed: sets 12 payment

@c

e

   

periods per year; End

 

 

 

 

 

 

 

 

 

 

mode.

 

 

 

 

30 @



Pressing @first multiplies

 

 

 

 

 

 

 

 

 

 

30 by 12, then stores this

 

 

 

 

 

 

 

 

 

 

number of payments in N.

 

 

11.5



Stores annual interest rate.

630 &

 

 

 

Stores a negative monthly

 

 

payment.

 



 Calculates loan amount.

v+12000 =



Calculates total price of the

 

 

house (loan plus down

payment).

Example: A Mortgage with a Balloon Payment. You’ve taken out a 25-year, $75,250 mortgage at 13.8% annual interest. You anticipate that you will own the house for four years and then sell it, repaying the loan in a “balloon payment.” What will be the size of your balloon payment?

5: Time Value of Money 69

File name : English-M02-1-040308(Print).doc Print data : 2004/3/9