Getting Started: Computing Compound Interest; Using The Tvm Solver - Texas Instruments TI-84 PLUS - Graphing Calculator Manual Book

Getting Started: Computing Compound Interest

At what annual interest rate, compounded monthly, will 1,250 accumulate to 2,000 in 7 years?
Because there are no payments when you solve compound interest problems,
Note:
set to and must be set to
0 P/Y
1. Press Œ Í to select
menu.
APPLICATIONS
2. Press Í to select
menu. The TVM Solver is displayed.
VARS
3. Enter the data:
N=
7
M
PV=
1250
PMT=
0
FV=
2000
P/Y=
1
C/Y=
12
4. Move the curstor to æ and press ƒ \.
YYou need to look for an interest rate of 6.73% to grow
1250 to 2000 in 7 years.

Using the TVM Solver

Using the TVM Solver
The TVM Solver displays the time-value-of-money (TVM) variables. Given four variable values,
the TVM Solver solves for the fifth variable.
menu section describes the five TVM variables (Ú, æ,
The
FINANCE VARS
and .
P/Y C/Y
in the TVM Solver corresponds to the
PMT: END BEGIN
(payment at the end of each period) and
To solve for an unknown
1. Press Œ Í Í to display the TVM Solver. The screen below shows the default
values with the fixed-decimal mode set to two decimal places.
.
1
from the
1:Finance
from the
1:TVM Solver
Pmt_Bgn
variable, follow these steps.
TVM
CALC
FINANCE CALC
(payment at the beginning of each period).
Chapter 14: Applications
must be
PMT
, , and ) and
PV PMT FV
menu items
Pmt_End
253