Sharp EL-5250, EL-5230 Purchasing with payment in n-month installments, 1 - 1 + i -n

Chapter 8: Application Examples

Purchasing with payment in n-month installments

If you wish to buy goods with the price of P by n-month installments, this program determines the payment per month.

i
S = (P – D) —————
1 – (1 + i)–n
where S: payment due every month	n : n-month installment
P: price of the product	D: down payment

i:installment payment interest rate (%)

1.Press b 2 1 0 to open a window for creating a NEW program.

2.Type PAYBYMN for the title then press e.

•A NEW program called ‘PAYBYMN’ will be created.

3.Enter the program as follows.

Program code	Key operations
Print”PRICE	i 1 @ a PRICE ;
	e
Input P	i 2 ; P e
Print”DOWN PAYMENT	i 1 @ a DOWN s
	PAYMENT ; e
Input D	i 2 ; D e
Print”MONTHS	i 1 @ a MONTHS ;
	e
Input N	i 2 ; N e
Print”RATE	i 1 @ a RATE ;
	e
Input I	i 2 ; I e
I=I©100	; I ; = ; I z 100
	e
S=(P-D)˚I©(1-(1+I)^(-N))	; S ; = ( ; P -
	; D ) k ; I z ( 1
	- ( 1 + ; I ) m
	( S ; N ) ) e

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