Part 2. What interest rate would reduce the monthly payment by $10?

Keys:

Display:

Description:

(In RPN mode)

 

 



Displays the leftmost hart of the TVM

 

 

equation.

I



Selects I; prompts for P.

 



 





Rounds the payment to two decimal

 



places.





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.

 



 





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:

Display:

Description:

(In RPN mode)

 

 



F  





Displays leftmost part of the TVM equation.

Selects F; prompts for P.

Retains P; prompts for I.

17-6Miscellaneous Programs and Equations