Try It! 2 - Sharp EL-9900 Operation Manual

Try it! 2

If the monthly payments in the first example is limit to a fixed $800, how much
must be the present value (PV) and the required amount of down payment.
+
(
Cash flow
–
(
Set the TAB and
FSE (2 and FIX
respectively)
–
)
PV = 300,000 down payment
1 2 3
)
1. Press @ ; C 2 D 2
TAB is set to 2 and FSE is set to FIX.
2. Press C @ g
A and E.
The previous TVM-SOLVER
screen will appear with the
cursor flashing on N.
3. Press } three times to move the cursor to PMT.
4. Press _ 800 and E.
Be sure to enter the minus
sign to indicate payment.
5. Move the cursor to PV.
6. Press @ h.
7. PV will change to 149025.29
• This indicates that the total
amount over 30 years will
be $149,025.29 if the
maximum monthly pay-
ment is limited to $800.
Chapter 11: Financial Features
I = 5%
Time flow
358
PMT = 800
FV = 0
359 N = 360
187