Sharp EL9900C EL-9900C - Page 197

Try it! 2 Chapter 11: Financial Features If the monthly payments in the first example is limit to a fixed $800, how much must be the present value (PV) and the required amount of down payment. (+) PV = 300,000 - down payment Cash flow I = 5% Time flow (-) 123 PMT = 800 FV = 0 358 359 N = 360 Set the TAB and FSE (2 and FIX respectively) 1. Press @ ; C 2 D 2 TAB is set to 2 and FSE is set to FIX. 2. Press C @ g A and E. The previous TVM-SOLVER screen will appear with the cursor flashing on N. 3. Press } three times to move the cursor to PMT. 4. Press _ 800 and E. Be sure to enter the minus sign to indicate payment. 5. Move the cursor to PV. 6. Press @ h. 7. PV will change to 149025.29 • This indicates that the total amount over 30 years will be $149,025.29 if the maximum monthly payment is limited to $800. 187