Sharp EL-738F Operation Manual page 25

3. Enter values into TVM solver variables.
• Enter a value and press the appropriate TVM variable key
( N , f ,
• Press . w and then enter a value for P/Y. The
same value is automatically assigned to C/Y as well. Val-
ues entered into P/Y or C/Y must be positive. After enter-
ing values, press s to quit the P/Y and C/Y settings.
• After setting P/Y (number of payments per year), you can
use . < to enter N (total number of payments).
Enter the number of years and press . < . The
calculator automatically calculates the total number of
payments.
• By pressing f / you can use the result of the pre-
vious normal calculation stored in ANS memory as a TVM
variable.
• Note that some variables are shared by other calculations
and may have values assigned by those calculations.
4. Press @ and the TVM variable key that you wish to solve.
• The calculation is performed and the obtained values are
displayed.
Basic examples for the TVM solver
1
A $56,000 mortgage loan (compounded monthly) requires
monthly payments of $440 during its 20-year amortization pe-
riod. Calculate the annual interest rate on the mortgage.
PV = $56,000
PMT = –$440
Default values for the number of payments per year (P/Y) and
the number of compounding periods per year (C/Y) are both set
to 1. Set these values before entering TVM variable values.
, u , t ).
Calculating basic loan interest
×
N = 12 20 years = 240
FV = 0
. . . . . .
23
I/Y = ?%