Sharp EL-738 Operation Manual page 33

Procedure
Set all the variables to
default values.
Make sure ordinary annuity is set (BGN is not displayed).
Set the number of pay-
ments per year to 12.
The number of compounding periods per year is automatically set to 12.
Press s to exit the P/Y and C/Y settings.
Enter the total number
of payments.
Enter payment.
Enter the annual inter-
est rate.
Set the future value to
zero.
Calculate the present
value.
Calculate the down
payment.
Answer: You can borrow $146,558.92 in total. The price of the
house is $180,000, so:
Down payment = $180,000 – present value
You need $33,441.08 for a down payment.
Key operation
. b
. w 12 Q
s 25 . <
N
, 900 u
5.5 f
0 T
@ v
s 180000 -
f v =
= $180,000 – $146,558.92
Display
000
P/Y=
1200
ANS~N
30000
(-9——)~PMT
-90000
5.5~I/Y
550
—~FV
000
PV=
14655892
18————-PV=
3344108
32