3400, 150000, 627995 | Sharp EL-738 specification

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

The number of compounding periods per year is automatically set to 12. Press sto exit the P/Y and C/Y settings.

Enter the total number	s		34	N	34~N
Enter the total number	s			N	34~N
of payments.					3400
					3400

Enter payment.	,200 u				(-2——)~PMT
					-20000
Enter the annual inter-	18	f			18~I/Y
Enter the annual inter-		f			18~I/Y
est rate.					1800
					1800

Enter the future value.	,1500 T				(-15——)~FV
					-150000
Calculate the present	@v				PV=
value.					627995
					627995

Answer: $6,279.95 should be charged for the machine.

4 Calculating down payment and amount to borrow

You wish to buy a house for $180,000. The ﬁnance company charges a 5.5% APR, compounded monthly, on a 25-year loan. If you can afford a monthly payment of $900, how much can you borrow? How much do you need for a down payment?

PV = ?

I/Y = 5.5%		FV = 0
		FV = 0

	. . . . . .

PMT = –$900

N = 12 ⋅ 25 years = 300

Page 32

Image 32

Sharp EL-738 operation manual 3400, 150000, 627995, Calculating down payment and amount to borrow

Contents

EL-738 Page Contents Introduction Operational Notes Keys Using the .andKey Notations in This Manual Preparing to Use the Calculator Resetting the Calculator In Case of DifﬁcultyResetting the calculator Key operation keys Calculator and Display LayoutCalculator layout Display layout 2ndF SET UP Menu Selecting the display notation and number of decimal places 3333333 0003000 Selecting the angular unit see Selecting a mode Operations available in each modeOperating Modes Selecting the date format see 14000 3439000 Basic Calculations ⋅ ⋅ Delete key Editing and Correcting an Entry Memory clear keyCursor keys Playback function Errors Memory use in each mode for memory calculations500 192 Temporary memories A-H, X-Z Independent memory MLast answer memory ANS TVM variables Example Key operation Statistical variablesMemory calculations General Information Financial calculations Variables used in ﬁnancial calculations Variables shared among calculations Listed ﬁnancial variables Basic variable operationsTVM variables N, I/Y, PV, PMT, FV ENT and Comp symbols Category Display symbols Descriptions Cash ﬂow diagrams Compound interest Setting the payment period payment due Variable Corresponding Description Default Variable keyTVM Time Value of Money Solver Variables used in the TVM solver Basic examples for the TVM solver Calculating basic loan interest 1200 240005600000 44000 400 8000125586 Calculating basic loan payments 3600 20000FV= Calculating future value 100 20001000000 376889 Specifying payments due Ordinary annuity ENDAnnuity due BGN Ordinary annuity 1800 30000000360 1624570 2400 2995014500 299500 3400 150000627995 Calculating down payment and amount to borrow 30000 90000550 14655892 Variables used in amortization Variable Description Default valueAmortization Calculations 61656 8895148 104852 203428600 1700 384457 480048275524 1724476 Discounted Cash Flow Analysis Entering cash ﬂow dataSingle cash ﬂows Repeated cash ﬂows 000*2 200300 Conﬁrming and editing data 2500000 Editing dataDeleting data Inserting data 3000000 600000Variables used in discounted cash ﬂow analysis NPV and IRR Procedure Key operation Display Bring up the initial dis Play in Normal modeTo obtain NPV To obtain IRR 2314 Calculating the present value of variable cash ﬂows 662752 Variables used in bond calculations Setting the day-count methodBond Calculations To obtain bond price Price PV To obtain yield to maturity Yield I/Y 650 1000015-2023 720 Entering dates 9250728 Setting the depreciation method Depreciation CalculationsVariables used in depreciation calculations Key operation DescriptionPage Calculating straight-line depreciation 30005000000 1956 Conversion between APR and EFFTo change APR to EFF To change EFF to APR Day and Date Calculations Variables used in day and date calculations 10-2009 22800Calculating number of days Answer 228 days Calculate Procedure Key operation Display Move to the last datePercent Change/Compound Interest Cal- culations 7500000 116000005467 800000 980000 113Cost/Sell/Margin/Markup Calculations Variables used in cost/sell/margin/markup calcula- tions 45560 950088842 Determining selling price Calculating the breakeven point Breakeven CalculationsVariables used in breakeven calculations 1500000 758012000 33937 Constant Calculations Chain Calculations 087 0715000 4500 Random Functions Random numbersRandom dice Random coin Random integer 532Modify Function Entering statistical data For a single-variable data setFor a two-variable data set x value y value J Key operation Sub-mode Display Entering statistical data 1000 2000 Statistical Calculations and Variables Single-variable statistical calculationsLinear regression calculations Quadratic regression calculation Variables Content Single-variable statistical calculation 5300017857 Linear regression calculation Quadratic regression calculation Financial Calculation Formulas TVM solverAmortization calculations Discounted cash ﬂow analysis Bond calculations Day and date calculations Depreciation calculationsConversion between APR and EFF Breakeven calculations Statistical Calcula- tion FormulasCost/Sell/Margin/Markup calculations Errors and Calculation Ranges Error codes and error typesSyntax error Error Calculation error Error Equation too long Error No solution ErrorDisplay error Error Input value error Error Calculation ranges of functions Function Calculation range Integer Battery Replacement When to replace the battery Priority Levels in Calculations Replacement procedureAutomatic power-off function Key operation and calculation priority SpeciﬁcationsFor more information about business/ ﬁnancial calculators Index Formulas, 72-75 FV, 18, 22, 72 GRAD, 8, 9, 61 Memo

000

000

1200

3400

-20000

1800

-150000

627995

4 Calculating down payment and amount to borrow