TI-83 Plus Applications 440
Getting Started: Financing a Car
Getting Started is a fast-paced introduction. Read the chapter for details.
You have found a car you would like to buy. The car costs 9,000. You can afford
payments of 250 per month for four years. What annual percentage rate (APR) will
make it possible for you to afford the car?
1. Press z † ~ ~ ~ Í to set the fixed-
decimal mode setting to 2. The TI-83 Plus will
display all numbers with two decimal places).
2. Press Œ Í to select 1:Finance from the
APPLICATIONS menu.
3. Press Í to select 1:TVM Solver from the
CALC VARS menu. The TVM Solver is displayed.
Press 48 Í to store 48 months to Ú. Press
† 9000 Í to store 9,000 to PV. Press Ì 250
Í to store L250 to PMT. (Negation indicates
cash outflow.) Press 0 Í to store 0 to FV.