Time Value of Money
44
Table 4-3 TVM Keys
Keys Description
F
Stores or calculates the future value (FV), a final cash flow.
FV always occurs at the end of the last compounding period.
?
Sets Begin mode (Beg). Payments occur at the beginning of
each compounding period.
]
Sets End mode (End). Payments occur at the end of each
compounding period.
You borrow $140,000.00 from a credit union for 30 years (360 months) at
6.5% annual interest, compounded monthly. What is your monthly payment
to the credit union? Note: at the end of the 30 years, you expect to have a
zero balance (
FV=0
). The example below in Table 4-4 is shown with RPN
as the active operating mode.
Table 4-4 TVM Example
Keys Display Description
12:[
Inputs
12
as the current value for the
number of payments, or compounding
periods.
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