Getting Started: Computing Compound Interest - Texas Instruments TI-83 Manual Book

Getting Started: Computing Compound Interest

At what annual interest rate, compounded monthly, will 1,250 accumulate to
2,000 in 7 years?
Note: Because there are no payments when you solve compound interest problems,
0
must be set to and
1. Press y [
FINANCE
FINANCE CALC
2. Press Í to select
to enter the number of periods in years.
Press † † Ì
value as a cash outflow (investment).
Press †
to specify no payments. Press
0
†
to enter the future value as a cash
2000
inflow (return). Press †
payment periods per year. Press †
set compounding periods per year to
3. Press } } } } } to place the cursor on
the æ prompt.
4. Press ƒ [
SOLVE
annual interest rate.
P/Y 1
must be set to .
] to display the
menu.
1:TVM Solver
to enter the present
1250
to enter
1
] to solve for æ, the
. Press
7
to
12
.
12
Financial Functions 14-3
PMT