132 Finance app
NOTE
After you type in a value and press
E
or ,
another variable is automatically highlighted. To
manually navigate to a desired field, press the arrow
keys. Be sure that values are entered for six of the seven
TVM variables: N,I%YR,PV,P/YR,PMT,C/YR,and
FV.
3. With I%/YR highlighted, type 5.5 and press
E.
4. With PV highlighted, type 19,500-3,000 and press
E.
5. Leave P/YR and C/YR
both at 12 (their default
values). Leave End as
the payment option.
Also, leave Future Value,
FV=0.00.
6. With PMT highlighted,
press to obtain a
payment of -315.17 (i.e.,
PMT = -$315.17) as
shown.
NOTE
The payment is negative to indicate it is money owed.
7. To determine the
maximum loan possible
if the monthly payments
are only $300, type the
value –300 in the PMT
field, highlight the PV field using
=, and press
. The resulting value is PV = $15,705.85.
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