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Chapter 8: Application Examples
Purchasing with payment in n-month installments
If you wish to buy goods with the price of P by n-month installments, this
program determines the payment per month.
S = (P – D) —————
1 – (1 + i)
where S: payment due every month
P: price of the product
i: installment payment interest rate (%)
Press b 2 1 0 to open a window for creating a NEW
1.
program.
Type PAYBYMN for the title then press e.
2.
• A NEW program called 'PAYBYMN' will be created.
3.
Enter the program as follows.
Program code
Print"PRICE
Input P
Print"DOWN PAYMENT
Input D
Print"MONTHS
Input N
Print"RATE
Input I
I=I©100
S=(P-D)˚I©(1-(1+I)^(-N))
104
i
–n
n : n-month installment
D: down payment
Key operations
i 1 @ a PRICE ;
e
i 2 ; P e
i 1 @ a DOWN s
PAYMENT ; e
i 2 ; D e
i 1 @ a MONTHS ;
e
i 2 ; N e
i 1 @ a RATE ;
e
i 2 ; I e
; I ; = ; I z 100
e
; S ; = ( ; P -
; D ) k ; I z ( 1
- ( 1 + ; I ) m
( S ; N ) ) e
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