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17–4 Miscellaneous Programs and Equations
File name 32sii-Manual-E-0424
Printed Date : 2003/4/24 Size : 17.7 x 25.2 cm
Variables Used:
N The number of compounding periods.
I The periodic interest rate as a percentage. (For example, if
the annual interest rate is 15% and there are 12 payments
per year, the periodic interest rate, i, is 15
÷
12=1.25%.)
B The initial balance of loan or savings account.
P The periodic payment.
F The future value of a savings account or balance of a loan.
Example:
Part 1. You are financing the purchase of a car with a 3–year (36–montld)
loan at 10.5% annual interest compounded monthly. The purchase price of
the car is $7,250. Your down payment is $1,500.
B = 7,250
_
1,500
I = 10.5% per year
N = 36 months
F = 0
P =
?
Keys: Display: Description:
z
{
%
}
2
Selects FIX 2 display format.
{
G
(
z
as needed )
Rºº1.1-
Displays the leftmost part of the
TVM equation.
{
P
@
value
Selects P; prompts for I.
10.5
12
p
@)
Converts your annual interest rate
input to the equivalent monthly
rate.
f
@
value
Stores 0.88 in I; prompts for N.
290


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