104
Purchasing with payment in n-month installments
If you wish to buy goods with the price of P by n-month installments, this
program determines the payment per month.
1.
Press
b
2
1
0
to open a window for creating a NEW
program.
2.
Type PAYBYMN for the title then press
e
.
• A NEW program called ‘PAYBYMN’ will be created.
3.
Enter the program as follows.
Program code
Key operations
Print”PRICE
i
1
@
a
PRICE
;
e
Input P
i
2
;
P
e
Print”DOWN PAYMENT
i
1
@
a
DOWN
s
PAYMENT
;
e
Input D
i
2
;
D
e
Print”MONTHS
i
1
@
a
MONTHS
;
e
Input N
i
2
;
N
e
Print”RATE
i
1
@
a
RATE
;
e
Input I
i
2
;
I
e
I=I©100
;
I
;
=
;
I
z
100
e
S=(P-D)˚I©(1-(1+I)^(-N))
;
S
;
=
(
;
P
-
;
D
)
k
;
I
z
(
1
-
(
1
+
;
I
)
m
(
S
;
N
)
)
e
Chapter 8: Application Examples
S = (P – D) —————
where S: payment due every month
n : n-month installment
P: price of the product
D: down payment
i: installment payment interest rate (%)
i
1 – (1 + i)
–n
Summary of Contents for EL-5230
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