1800, 30000000, 360, 1624570, Annuity due | Sharp EL-738 manual

Procedure			Key operation			Display
Enter the total number	s			18	N	18~N
Enter the total number	s				N	18~N
of payments.						1800
						1800

Enter the future value.	300000 T					3—————~FV
						30000000
Set the present value to	0	v				—~PV
Set the present value to		v				—~PV
zero.						000
						000

Enter the annual inter-	3.6		f			3.6~I/Y
Enter the annual inter-			f			3.6~I/Y
est rate.						360
						360

Calculate payment.	@u					PMT=

-1624570

Answer: The monthly investment should be $16,245.70.

2 Annuity due

Your company wishes to obtain a computer system with a value of $2,995. The same system may be leased for 24 months at $145 per month, paid at the beginning of each month. At the end of the lease, the system may be purchased for 10% of the retail price. Should you lease or purchase the computer if you can obtain a two-year loan at 7.2%, compounded monthly, to purchase the computer?

PV = $2,995

FV = $2,995 ⋅ 10% = $299.5

. . . . . .

PMT = –$145

		N = 24		I/Y = ?%
Procedure		Key operation				Display
Procedure		Key operation				Display

Set all the variables to		.b
default values.						000
						000

Set to annuity due		."
(BGN is displayed).						000
						000

Set the number of pay-		.w	12	Q		P/Y=
Set the number of pay-		.w		Q		P/Y=
ments per year to 12.						1200
						1200

29

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Sharp EL-738 operation manual 1800, 30000000, 360, 1624570, Annuity due

Contents

EL-738 Page Contents Introduction Operational Notes Using the .and Key Notations in This ManualKeys Resetting the Calculator In Case of Difﬁculty Resetting the calculatorPreparing to Use the Calculator Calculator and Display Layout Calculator layoutKey operation keys Display layout 2ndF SET UP Menu Selecting the display notation and number of decimal places 000 33333330003 Selecting the angular unit see Operating Modes Selecting a modeOperations available in each mode Selecting the date format see 9000 14000343 Basic Calculations ⋅ ⋅ Delete key Cursor keys Editing and Correcting an EntryMemory clear key Playback function 500 ErrorsMemory use in each mode for memory calculations 192 Last answer memory ANS Temporary memories A-H, X-ZIndependent memory M TVM variables Statistical variables Memory calculationsExample Key operation General Information Financial calculations Variables used in ﬁnancial calculations Variables shared among calculations Basic variable operations TVM variables N, I/Y, PV, PMT, FVListed ﬁnancial variables ENT and Comp symbols Category Display symbols Descriptions Cash ﬂow diagrams Compound interest TVM Time Value of Money Solver Setting the payment period payment dueVariable Corresponding Description Default Variable key Variables used in the TVM solver Basic examples for the TVM solver Calculating basic loan interest 5600000 120024000 44000 125586 4008000 Calculating basic loan payments FV= 360020000 Calculating future value 1000000 1002000 376889 Annuity due BGN Specifying payments dueOrdinary annuity END Ordinary annuity 360 180030000000 1624570 14500 240029950 299500 627995 3400150000 Calculating down payment and amount to borrow 550 3000090000 14655892 Variable Description Default value Amortization CalculationsVariables used in amortization 61656 8895148 600 104852203428 1700 48275524 3844574800 1724476 Single cash ﬂows Discounted Cash Flow AnalysisEntering cash ﬂow data Repeated cash ﬂows 300 000*2200 Conﬁrming and editing data Deleting data 2500000Editing data Inserting data Variables used in discounted cash ﬂow analysis 3000000600000 NPV and IRR To obtain NPV Procedure Key operation Display Bring up the initial disPlay in Normal mode To obtain IRR 2314 Calculating the present value of variable cash ﬂows 662752 Setting the day-count method Bond CalculationsVariables used in bond calculations To obtain bond price Price PV To obtain yield to maturity Yield I/Y 15-2023 65010000 720 9250 728Entering dates Variables used in depreciation calculations Setting the depreciation methodDepreciation Calculations Key operation DescriptionPage 3000 5000000Calculating straight-line depreciation To change APR to EFF 1956Conversion between APR and EFF To change EFF to APR Day and Date Calculations Variables used in day and date calculations Calculating number of days 10-200922800 Answer 228 days Procedure Key operation Display Move to the last date Percent Change/Compound Interest Cal- culationsCalculate 5467 750000011600000 800000 Cost/Sell/Margin/Markup Calculations 980000113 Variables used in cost/sell/margin/markup calcula- tions 88842 455609500 Determining selling price Breakeven Calculations Variables used in breakeven calculationsCalculating the breakeven point 12000 15000007580 33937 Constant Calculations Chain Calculations 5000 087071 4500 Random dice Random FunctionsRandom numbers Random coin 532 Modify FunctionRandom integer For a two-variable data set x value y value J Entering statistical dataFor a single-variable data set Key operation Sub-mode Display Entering statistical data 1000 2000 Linear regression calculations Statistical Calculations and VariablesSingle-variable statistical calculations Quadratic regression calculation Variables Content 53000 17857Single-variable statistical calculation Linear regression calculation Quadratic regression calculation Amortization calculations Financial Calculation FormulasTVM solver Discounted cash ﬂow analysis Bond calculations Depreciation calculations Conversion between APR and EFFDay and date calculations Statistical Calcula- tion Formulas Cost/Sell/Margin/Markup calculationsBreakeven calculations Syntax error Error Errors and Calculation RangesError codes and error types Calculation error Error Display error Error Equation too long ErrorNo solution Error Input value error Error Calculation ranges of functions Function Calculation range Integer Battery Replacement When to replace the battery Replacement procedure Automatic power-off functionPriority Levels in Calculations Speciﬁcations For more information about business/ ﬁnancial calculatorsKey operation and calculation priority Index Formulas, 72-75 FV, 18, 22, 72 GRAD, 8, 9, 61 Memo