203
FINANCIAL FUNCTIONS
3. Press ≥≥≥
—
800
®
to input “-800” for “PMT”.
4. Press ≥ 12
®
≤≤≤≤ to move the cursor pointer to the
location of PV.
5. Press
Ï
to solve.
• Result: PV = 149025.29
• This shows the limit of payable amount for monthly payments of $800.
• Thus, the amount needed for the down payment is $150,974.71 ($300,000 -
$149,025.29)
In the TVM SOLVER screen, it is easy to obtain various results by inputting known
variables such as payment periods to 20, 25, and 30 years to simulate payments, as
well as freely setting the unknown variable (variable to solve).
<Example 3>
We will compare the principal interest total for accumulated interest of $100 monthly at
2.18% for 5 years. The cash flow diagrams for the payment due at the beginning and
end of the period are as follows (TAB is set to 2):
Payment due at beginning of period Payment due at end of period
1
Payment due at beginning of period
1. Press
Ï
FINANCE
C2®
to set to payment
due at beginning of period.
2. Press
Ï
FINANCE
A®
to specify the TVM
SOLVER.
3. Press 60
®
2.18
®
0
®—
100
®
≥12
®
to input known variables.
4. Press ≤≤
Ï
to move the cursor to FV and solve.
2
Payment due at end of period
1. Press
Ï
FINANCE
C1®
to set to
payment due at end of period.
2. Press
Ï
FINANCE
A®
.
PV=0
1
234
PMT=-100
59 60
FV=?
i=2.18%
58
PV=0
1
234
PMT=-100
59 60
FV=?
EL-9650-(08)EN (197-210) 8/1/00, 9:09 AM203
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