Texas Instruments Avigo, User Manual

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Financial Calculator User’s Guide 7
Example: Part 1
Using the TVM application, determine the monthly payment you would make for a
30-year mortgage with a loan amount of $120,000 and an annual percentage rate of
9.125%.
Note: Remember to check the settings on the third screen. Pressing
Ç
changes
only the settings on this screen. In this example, select Œ and Š , set
Payments/year equal to 12, Compounds/year to 12, and Decimal place to 2.
Procedure Keystrokes Display
Select the
TVM
application. Tap the
Primary
list box
then select
Financial-TVM.
Screen one of the
Financial-
TVM
Clear the input fields.
C
All zeros
Display the input calculator
to enter the loan amount. Tap the † input box. Standard calculator
Enter the loan amount. 120000
ö
† 120,000.00
Display the input calculator
to enter the interest rate. Tap the ‡ input box. Standard calculator
Enter the interest rate. 9.125
ö
‡ 9.13
Display the input calculator
to enter the number of
payments. Tap the ˆ input box. Standard calculator
Enter the number of
payments. 360
ö
(or 12 X 30 =
ö
)
ˆ
360.00
Compute the payment. Tap „
.
„
-976.36
The computed monthly payment is $976.36. Because PMT is an outflow, it is
displayed as a negative number.