Texas Instruments TI-83 Getting Started: Computing Compound Interest

Financial Functions 14-3
8314FINA.DOC TI-83 international English Bob Fedorisko Revised: 02/19/01 12:50 PM Printed: 02/19/01 1:38 PM
Page 3 of 14
At what annual interest rate, compounded monthly, will 1,250 accumulate to
2,000 in 7 years?
Note: Because there are no payments when you solve compound interest problems, PMT
must be set to 0 and P/Y must be set to 1.
1. Press y [FINANCE] to display the
FINANCE CALC menu.
2. Press Í to select 1:TVM Solver. Press 7
to enter the number of periods in years.
Press † † Ì 1250 to enter the present
value as a cash outflow (investment).
Press † 0 to specify no payments. Press
† 2000 to enter the future value as a cash
inflow (return). Press † 1 to enter
payment periods per year. Press † 12 to
set compounding periods per year to 12.
3. Press } } } } } to place the cursor on
the æ prompt.
4. Press ƒ [SOLVE] to solve for æ, the
annual interest rate.
Getting Started: Computing Compound Interest