Posted by Lonnie on December 29, 2002 at 07:58:05:
Jake,
Check out the article “How to use a financial calculator”. It should answer your question.
Lonnie
Present Value, Calculator trouble? - Posted by Jake O’ (NJ)
Posted by Jake O’ (NJ) on December 29, 2002 at 24:16:18:
I’m still having trouble with this calculator. The funny thing is I’m taking a course in financial management. It’s distance education so I have no teacher. No help. I can solve the problems using the formulas but not with the calculator. I haven’t figured out how to plug in the numbers. In what sequence must I push the buttons? Step by Step. Thanks alot for any help. Jake O’(NJ)
P.S. My calculator is a TI BA-35 solar
Re: Present Value, Calculator trouble? - Posted by kenny
Posted by kenny on December 30, 2002 at 21:27:08:
what kind of a calculator?
if a TI35 then you might try the following
The keys are
N (for time in months–ie 3 years 3x12 = 36months)press N to enter
%i (for intrest 16% devide by 12 (months) = 1.33intrest per month)press %i
PMT for payment do you know it?
PV (present value) do you know it?
FV ( future value) do you care?
you need to know at least 3 of the items —
of months 36 press (N)-- intrest (36months) 3years —
PV present value (the price )$7500.
now what is the payment??? NOW PRESS 0( that right 0)
enter the 0 by pressing the PMT key then CPT (compute key THEN the PMT key this should give you ($263.68)
now then ALWAYS press 0 and enter it into your quesion key—then compute the answer–some times the dum calculator will (remember the wrong number if you dont enter a 0 befor asking for the answer.
also it may be that the intrest may be to high for the time frame or the time frame not long enough for the payments— always check $7500X 16%=$1200.=$100. per month is the intrest for the first month so it will work.