Example: Computing Amount To Borrow And Down Payment - Texas Instruments Calculator User Manual

To
Enter number of payments
using payment multiplier.
Enter interest rate.
Enter amount of payment.
Compute future value.
Answer:
Depositing $200 at the beginning of each month for 20 years
results in a future amount of $111,438.31.
Example: Computing Amount to Borrow and
Down Payment
You consider buying a car for $15,100. The finance company charges
7.5% APR compounded monthly on a 48-month loan. If you can afford a
monthly payment of $325, how much can you borrow? How much do
you need for a down payment?
To
Set all variables to defaults.
Set payments per year to 12.
Return to standard-calculator
mode
Enter number of payments using
payment multiplier.
Enter interest rate.
Enter payment.
36
Press
& Z ,
20
-
7.5
S /
200
% 0
Press
& } !
& [
!
& U
& Z ,
4
7.5
325
Time-Value-of-Money and Amortization Worksheets
N=
I/Y=
PMT=
FV=
RST
12
P/Y=
N=
-
I/Y=
S /
PMT=
Display

240.00

7.50

-200.00

111,438.31
Display
0.00

12.00
0.00

48.00

7.50

-325.00