6LQFH WKH SD\PHQW LV DW WKH HQG RI WKH PRQWK WKH SDVW SD\PHQW
Step 2.
DQG WKH EDOORRQ SD\PHQW RFFXU DW WKH VDPH WLPH 7KH ILQDO SD\PHQW LV WKH
VXP RI 307 DQG )9
PV = 72,500.00
2
3
PMT = - ,424.06
End Mode
7KH YDOXH LQ 307 VKRXOG DOZD\V EH URXQGHG WR WZR
GHFLPDO SODFHV ZKHQ FDOFXODWLQJ )9 RU 39 WR DYRLG VPDOO
DFFXPXODWLYH GLVFUHSDQFLHV EHWZHHQ QRQURXQGHG
QXPEHUV DQG DFWXDO GROODUV DQG FHQWV SD\PHQWV ,I WKH
GLVSOD\ LV QRW VHW WR WZR GHFLPDO SODFHV SUHVV
Keys:
L2
P
/
2
I/YR = 8.8%
N = 4
2
P/YR = 2
. . .
4
Display:
–1,424.06
48.00
–163,388.39
–164,812.45
4 4
4 5
Description:
5RXQGV SD\PHQW WR
WZR GHFLPDO SODFHV
WKHQ VWRUHV
6WRUHV \HDU WHUP
ï WKDW \RX H[SHFW WR
RZQ KRXVH
&DOFXODWHV ORDQ EDO
DQFH DIWHU \HDUV
&DOFXODWHV WRWDO
SD\PHQW 307 DQG
)9 WR SD\ RII ORDQ
PRQH\ SDLG RXW LV
QHJDWLYH
5: Time Value of Money Calculations 59
4 6
4 7
4 8
FV = ?
K