Texas Instruments BA-20 Profit Manager User Manual - Page 40

Example: Computing Amount to Borrow and Down Payment - buy

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To Enter number of payments using payment multiplier. Enter interest rate. Enter amount of payment. Compute future value. Press Display 20 & Z , N= 240.00 7.5 200 S / % 0 I/Y= 7.50 PMT= -200.00 FV= 111,438.31 Answer: Depositing $200 at the beginning of each month for 20 years results in a future amount of $111,438.31. Example: Computing Amount to Borrow and Down Payment You consider buying a car for $15,100. The finance company charges 7.5% APR compounded monthly on a 48-month loan. If you can afford a monthly payment of $325, how much can you borrow? How much do you need for a down payment? To Press Display Set all variables to defaults. & } ! RST 0.00 Set payments per year to 12. & [ 12 ! P/Y= 12.00 Return to standard-calculator mode & U 0.00 Enter number of payments using 4 & Z , N= payment multiplier. 48.00 Enter interest rate. 7.5 - I/Y= 7.50 Enter payment. 325 S / PMT= -325.00 36 Time-Value-of-Money and Amortization Worksheets

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36
Time-Value-of-Money and Amortization Worksheets
Answer:
Depositing $200 at the beginning of each month for 20 years
results in a future amount of $111,438.31.
Example: Computing Amount to Borrow and
Down Payment
You consider buying a car for $15,100. The finance company charges
7.5% APR compounded monthly on a 48-month loan. If you can afford a
monthly payment of $325, how much can you borrow? How much do
you need for a down payment?
Enter number of payments
using payment multiplier.
20
& Z ,
N=
240.00
Enter interest rate.
7.5
-
I/Y=
7.50
Enter amount of payment.
200
S /
PMT=
-200.00
Compute future value.
% 0
FV=
111,438.31
To
Press
Display
Set all variables to defaults.
& } !
RST
0.00
Set payments per year to 12.
& [
12
!
P/Y=
12.00
Return to standard-calculator
mode
& U
0.00
Enter number of payments using
payment multiplier.
4
& Z ,
N=
48.00
Enter interest rate.
7.5
-
I/Y=
7.50
Enter payment.
325
S /
PMT=
-325.00
To
Press
Display