189
Chapter 9: Financial Features
2. Try it! 2
If the monthly payments in the first example is limit to a fixed $800, how much
must be the present value (PV) and the required amount of down payment.
1. Press
@
;
C
2
D
2
TAB is set to 2 and FSE is set to FIX.
2. Press
C
@
g
A
and
E
.
The previous TVM-SOLVER
screen will appear with the
cursor flashing on N.
3. Press
}
three times to move the cursor to PMT.
4. Press
_
800 and
E
.
Be sure to enter the minus
sign to indicate payment.
5. Move the cursor to PV.
6. Press
@
h
.
7. PV will change to 149025.29
• This indicates that the
total amount over 30 years
will be $149,025.29 if the
maximum monthly payment
is limited to $800.
Cash flow
PV = 300,000 – down payment
FV = 0
N = 360
PMT = 800
Time flow
I = 5%
359
358
2
3
1
(
+
)
(
–
)
Set the TAB and
FSE (2 and FIX
respectively)