29
Pr
ocedure
K
e
y
operation
Displa
y
Enter the total n
umber
of pa
yments
.
s
18
N
18~N
1800
Enter the future v
alue
.
300000
T
3—————~FV
3
0000000
Set the present v
alue to
z
ero
.
0
v
—~PV
000
Enter the ann
ual inter-
est r
ate
.
3.6
f
3
.6~I/Y
3
60
Calculate pa
yment.
@
u
P
MT=
-1624570
Ans
wer:
The monthly in
v
estment should be $16,245.70.
Ann
uity
due
Y
our compan
y wishes to obtain a computer system with a v
alue of
$2,995.
The same system ma
y be leased f
or 24 months at $145 per
month, paid at the beginning of each month.
At the end of the lease
,
the system ma
y be purchased f
or 10% of the retail pr
ice
. Should
you lease or purchase the computer if y
ou can obtain a tw
o-y
ear
loan at 7.2%, compounded monthly
, to purchase the computer?
N = 24
......
PV = $2,995
I/Y = ?%
FV = $2,995
×
10% = $299.5
PMT = –$145
Pr
ocedure
K
e
y
operation
Displa
y
Set all the v
a
riab
les to
def
ault v
alues
.
.
b
000
Set to ann
uity due
(
BGN
is displa
y
ed).
.
"
000
Set the n
umber of pa
y-
ments per y
ear to 12.
.
w
12
Q
P/Y=
1
200
2
3 Financial FunctionsCurrent.indd 29
06.7.10 8:38:20 PM
