Texas Instruments BA II Plus User Manual

2: TVM and Amortization Worksheets 49
Monthly Payments
You are planning to purchase a new small desk and chair set
that is sale priced at $525. You can finance your purchase at
20% APR, compounded monthly, for two years. How much is
the monthly payment?
PV = $525 FV = $0
PMT = ? PMT = ? PMT = ?
. . .
0 1 23 N = 24
I/Y = 20 ÷ 12
Example: Monthly Payments
Procedure Keystrokes Display
Set all variables to defaults.
& } !
RST 0.00
Enter number of payments
using payment multiplier.
2
& Z ,
N= 24.00

Enter interest rate.
20
-
I/Y= 20.00

Enter loan amount.
525
S .
PV= -525.00

Compute payment.
% /
PMT= 26.72

Your monthly payment is $26.72.

Texas Instruments BA II Plus Specifications

General

Type	Financial
Cover	-
Form factor	Pocket
Control type	Buttons
Product color	Black
Digits	10 digits
Display tilting	No
Display number of lines	1 lines
Memory registers	10
Power source	Battery