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To
Compute loan amount.
Compute down payment
Answer:
You can borrow $13,441.47 with a down payment of $1,658.53.
Example: Computing Regular Deposits for a
Specified Future Amount
You plan to open a savings account and deposit the same amount of
money at the beginning of each month. In 10 years, you want to have
$25,000 in the account.
How much should you deposit if the annual interest rate is 0.5% with
quarterly compounding?
Note: Because
to equal
(payments per year), you must change the
P/Y
To
Set all variables to defaults.
Set payments per year to 12.
Set compounding periods to 4.
Set beginning-of-period
payments.
Return to standard-calculator
mode.
Enter number of deposits using
payment multiplier.
Enter interest rate.
Enter future value.
Compute deposit amount.
Answer:
You must make monthly deposits of $203.13.
Time-Value-of-Money and Amortization Worksheets
(compounding periods per year) is automatically set
C/Y
Press
% .
H
S N
15,100
Press
& } !
& [
!
12
#
!
4
& ] & V
& U
& Z ,
10
-
.5
0
25,000
% /
Display
13,441.47
PV=
-1,658.53
value.
C/Y
Display
RST
0.00
P/Y=
12.00
C/Y=
4.00
BGN
0.00
N=
120.00
I/Y=
0.50
FV=
25,000.00
PMT=
-203.13
37
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