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Table 6-2 Calculating the monthly payment
Keys
JG\Í
DPJGÙ
J:7VÒ
JYV::A
JV::Ï
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Part 2
At a price of 14,500, what interest rate is necessary to lower your payment by 50.00, to
372.53?
Figure 7 Cash flow diagram (Calculate PMT)
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if BEGIN annunciator is displayed.
Display
12.00
36.00
10.50
13,000.00
0.00
-422.53
Description
Sets periods per year (optional, as
12 is the default).
Stores number of periods in loan.
Stores annual nominal interest rate.
Stores amount borrowed.
Stores the amount left to pay after 3
years.
Calculates the monthly payment.
The negative sign indicates money
paid out.
Time Value of Money Calculations
63
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