Computing Compound Interest - Texas Instruments TI-84 Plus Manual Book

3. Press Í to select
menu. The TVM Solver is displayed.
CALC VARS
Í to store 48 months to Ú. Press †
Press
48
Í to store 9,000 to
L250 to
. (Negation indicates cash outflow.) Press
PMT
Í to store 0 to
Í to store 12 payments per year to
Press
12
and 12 compounding periods per year to
to 12 will compute an annual percentage rate
P/Y
(compounded monthly) for æ. Press † Í to select
, which indicates that payments are due at the
PMT:END
end of each period.
4. Press } } } } } } to move the cursor to the æ
prompt. Press ƒ \ to solve for æ. What APR
should you look for?
Getting Started: Computing Compound Interest Getting Started: Computing Compound Interest Getting Started: Computing Compound Interest Getting Started: Computing Compound Interest
At what annual interest rate, compounded monthly, will 1,250 accumulate to 2,000 in 7
years?
Chapter 14: Applications
from the
1:TVM Solver
. Press Ì
PV 250
.
FV
9000
Í to store
0
P/Y
. Setting
C/Y
389