{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Finance on the TI84

# Finance on the TI84 - Finance Formulas on the TI84 The TI84...

This preview shows pages 1–2. Sign up to view the full content.

Finance Formulas on the TI84 The TI84 has a general “time-value-of-money” (TVM) equation built in which will carry out, with just a few key strokes, the otherwise tedious computations involved in compound interest, loans and annuities. To get to the TVM Solver: (a) Press the APPS key (b) Select “1. Finance” (c) Select “1. TVM Solver” We illustrate the use of the TVM Solver and identify the variables used in the calculator by working through a simple example: Suppose that you invest \$ 4,000 today for 5 years at an annual percentage rate of 6.5%, compounded monthly. How much money will be in your account at the end of the 5 years? N , the number of time periods [ n in the text]. Since we are compounding monthly, the number of time periods is 12 × 5 = 60 . Enter 60 or 12 × 5 . I% , the annual percentage rate [ r in the text]. Enter 6.5. PV , the present value [ P in the text]. Enter 4000 PMT , the size of the regular monthly payments into the ac- count or the rent [ R in the text]. Since we are making no such payments, enter 0.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}