HP 33s hp 33s_user's manual_English_E_HDPM20PIE56.pdf - Page 285
SOLVE instructions, Variables Used, Part 1., and displayed.
UPC - 082916001456
View all HP 33s manuals
Add to My Manuals
Save this manual to your list of manuals |
Page 285 highlights
SOLVE instructions: 1. If your first TVM calculation is to solve for interest rate, I, press 1 I I. 2. Press | H. If necessary, press or to scroll through the equation list until you come to the TVM equation. 3. Do one of the following five operations: a. Press N to calculate the number of compounding periods. b. Press I to calculate periodic interest. For monthly payments, the result returned for I is the monthly interest rate, i; press 12 z to see the annual interest rate. c. Press B to calculate initial balance of a loan or savings account. d. Press P to calculate periodic payment. e. Press F to calculate future value or balance of a loan. 4. Key in the values of the four known variables as they are prompted for; press g after each value. 5. When you press the last g, the value of the unknown variable is calculated and displayed. 6. To calculate a new variable, or recalculate the same variable using different data, go back to step 2. SOLVE works effectively in this application without initial guesses. Variables Used: N The number of compounding periods. I The periodic interest rate as a percentage. (For example, if the annual interest rate is 15% and there are 12 payments per year, the periodic interest rate, i, is 15÷12=1.25%.) B The initial balance of loan or savings account. P The periodic payment. F The future value of a savings account or balance of a loan. Example: Part 1. You are financing the purchase of a car with a 3-year (36-month) loan at 10.5% annual interest compounded monthly. The purchase price of the car is $7,250. Your down payment is $1,500. Miscellaneous Programs and Equations 17-3