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Page 144 Application Specific Tasks
Finance buttons
Finance buttons enable you to find an unknown variable value based
on a group of known variable values.
For example, to calculate the monthly payment for a 30-year home
loan of $100,000 with an annual interest rate of 8%, you would enter
the following variables:
■
Payments/year = 12
■
N = 360 (30 years x 12 months)
■
APR = 8
■
PV = 100,000
■
FV = 0
Using these variables, the answer would be -733.76 per month.
To solve this exmaple:
1. Enter a value and then tap the corresponding variable button.
Repeat this process until you’ve entered the following four
variables:
■
N = 360 (30 years x 12 months)
■
APR = 8
■
PV = 100,000
■
FV = 0
2. Enter 12 and tap the P/Yr button to enter the number of payments
per year.
3. Tap Edit.
4. Tap the Pmt line and erase all values on the line including zero.
5. Tap Solve.
6. Tap Done.
You can use a similar process to solve other financial equations by
entering four of the variables to find the value of the fifth variable.