Sharp EL-9650, Operation Manual, Page: 211 / 373

201
FINANCIAL FUNCTIONS
• The following screen will appear when entering the TVM SOLVER mode.
Payment due setting
Number of payment periods
Interest
Present value (principal sum)
Payment or received amount
Future value (principal interest total)
Number of payments per year
Cumulative interest per year
The payment due is set to the
end of period.
<Example 1>
There is plan to purchase a house for a price of $300,000. The down payment is
$100,000. We will calculate the monthly payments for a 30 year loan at an annual
interest rate of 5% for the remaining $200,000.
• First, draw the cash flow for this problem (payments are due at the end of period).
We will then input known variables (the following key operation is executed while in the
TVM SOLVER screen).
1. Press 360
®
to input 360 (number of monthly payments for 30 years) for N
(number of payments).
The cursor pointer moves to “I%” and the annual interest can be entered.
2. Input I% (annual interest).
5
®
3. Input PV (present value) (in this case, it is the loaned $200,000).
200000
®
4 Press
®
.
Since the payment amount has been solved, PMT is skipped without entry and the
cursor is moved down (“0” will be displayed).
5. Press
®
.
Since the FV (future value) will be “0” at the end (remaining loan),
®
is pressed
to display “0”.
PV=200000
1 2 3 4 5 6 7 8 358 359
FV=0
N=360 (12
×
30)
i=5%
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EL-9650-(08)EN (197-210) 8/1/00, 9:09 AM 201