Question about Texas Instruments TI-83 Plus Calculator

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Since there are twelve months in a year, multiply by twelve. For example, a thirty-year mortgage involves 360 months.

Just be sure to divide the interest rate by twelve to match. For example, 6% annually is 0.5% monthly.

Posted on Feb 19, 2010

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Posted on Jan 02, 2017

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Banks and Non-Banking Financial Companies use the following formula to calculate EMI of a home loan. This is the formula for calculating compound interest. Applying the same formula for a home loan of Rs 90Lakhs, we get,

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

P= Amount borrowed- Here, it will be 90 lakhs

R= Rate of interest per month

N= Number of months in the home loan tenure

Going by the current lending rates followed by the financial institutions, we will consider R to be 9% per annum (to be converted to % per month) and for the loan tenure, we will take 20 years/240 months.

Substituting all values in the above formula, the home loan EMI comes out to be Rs 80,975 per month.

You can easily calculate the EMI for your home loan for any bank or NBFC using a free online Home Loan EMI calculator. You can also find this handy tool on the online portals of most banks and NBFCs. All you have to do is feed in the values in the respective fields and receive the answers.

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

P= Amount borrowed- Here, it will be 90 lakhs

R= Rate of interest per month

N= Number of months in the home loan tenure

Going by the current lending rates followed by the financial institutions, we will consider R to be 9% per annum (to be converted to % per month) and for the loan tenure, we will take 20 years/240 months.

Substituting all values in the above formula, the home loan EMI comes out to be Rs 80,975 per month.

You can easily calculate the EMI for your home loan for any bank or NBFC using a free online Home Loan EMI calculator. You can also find this handy tool on the online portals of most banks and NBFCs. All you have to do is feed in the values in the respective fields and receive the answers.

Oct 09, 2017 | The Office Equipment & Supplies

Depends on the payments plan. If annually, the yield is 10%; if semi-annually then 5%. Quarterly the yeild is 2.5%. A good site to do the actual calculations is investopedia.com.

Jul 20, 2014 | Computers & Internet

Not built-in (the 48 is a scientific calculator, not a financial calculator). But there are plenty of programs and applications for financial calculations. Some of them are:

http://www.hpcalc.org/details.php?id=4507

http://www.hpcalc.org/details.php?id=6317

http://www.hpcalc.org/details.php?id=5431

http://www.hpcalc.org/details.php?id=4507

http://www.hpcalc.org/details.php?id=6317

http://www.hpcalc.org/details.php?id=5431

Nov 30, 2013 | HP 48gx Calculator

The 107,186.37 is what the future value would be if the interest per month is 0.58%, which is 6.96% per year. Try the following:

2nd [CLR TVM] 1 2 N 7 I/YR 1 0 0 0 0 0 PV CPT FV

As for rounding, you can change the calculator display to any number of digits (up to a limit, of course) by pressing 2nd [FORMAT] and then a number specifying the number of desired digits after the decimal point or 9 for floating decimal.

2nd [CLR TVM] 1 2 N 7 I/YR 1 0 0 0 0 0 PV CPT FV

As for rounding, you can change the calculator display to any number of digits (up to a limit, of course) by pressing 2nd [FORMAT] and then a number specifying the number of desired digits after the decimal point or 9 for floating decimal.

Mar 14, 2012 | Texas Instruments BA-II Plus Calculator

Sorry, but that calculator does not have a financial application.

Jan 31, 2012 | Casio Office Equipment & Supplies

Neely Neel Neel Neelerson,

--> APPS

--> TVM

Viola. The initials TVM stand for Time-Value-Money; it's a widely used tool throughout financial mathematics. If you are looking to deal with annuities, bonds, present value equations, future value equations, or even certain stocks then you will want to use the TVM app within your TI-84.

When you go into that menu screen you will see about 10 input lines; and despite how you're being taught you'd be best off using only five (from a mathematical & conceptual standpoint). The backbone of the TVM is the time-zero equation of value. So, all you want to be touching is the N, I/Y, PV, PMT, and FV keys.

Background on TVM:

N = Number of intervals

I/Y = Effective Interest Rate Per Interval (5% is .05 but the computer wants it entered as 5.0)

PV = The Present Value

PMT = Recurring Payment (either deposit or withdrawal)

FV = Future Value

There are like 3 other inputs that I encourage you to ignore (in exchange for learning exactly what's going on within this application).

NOTE: You MUST make your effective interest term match your number of intervals. For example, an annuity with monthly payments for 5 years with a monthly effective interest rate of 2% would need an N value of 60 (which is 12 months per year times 5 years for a total of 60 months).

There's more that could be said, but I think this should help you find the PV of an annuity.

Go Bulls,

The Math Cheetah

411@themathcheetah.com

--> APPS

--> TVM

Viola. The initials TVM stand for Time-Value-Money; it's a widely used tool throughout financial mathematics. If you are looking to deal with annuities, bonds, present value equations, future value equations, or even certain stocks then you will want to use the TVM app within your TI-84.

When you go into that menu screen you will see about 10 input lines; and despite how you're being taught you'd be best off using only five (from a mathematical & conceptual standpoint). The backbone of the TVM is the time-zero equation of value. So, all you want to be touching is the N, I/Y, PV, PMT, and FV keys.

Background on TVM:

N = Number of intervals

I/Y = Effective Interest Rate Per Interval (5% is .05 but the computer wants it entered as 5.0)

PV = The Present Value

PMT = Recurring Payment (either deposit or withdrawal)

FV = Future Value

There are like 3 other inputs that I encourage you to ignore (in exchange for learning exactly what's going on within this application).

NOTE: You MUST make your effective interest term match your number of intervals. For example, an annuity with monthly payments for 5 years with a monthly effective interest rate of 2% would need an N value of 60 (which is 12 months per year times 5 years for a total of 60 months).

There's more that could be said, but I think this should help you find the PV of an annuity.

Go Bulls,

The Math Cheetah

411@themathcheetah.com

Mar 13, 2011 | Texas Instruments TI-84 Plus Calculator

What you've done is calculate the future value after 3 months, not 3 years.

Press 1 SHIFT [P/YR] to set the payments per year to one. Now the FV key should give you 115.76

Press 1 SHIFT [P/YR] to set the payments per year to one. Now the FV key should give you 115.76

Feb 15, 2011 | HP 10bII Calculator

f xy (clear financial registers)

5 g n (5 years at 12 payments per year)

2 5 0 0 CHS PMT ($2500 payment per month)

9 i (9% annual rate)

PV (calculate present value)

5 g n (5 years at 12 payments per year)

2 5 0 0 CHS PMT ($2500 payment per month)

9 i (9% annual rate)

PV (calculate present value)

Feb 14, 2011 | HP 12c Calculator

Hi there,

Firstly, can i recommend resetting the calculator (There is a reset button on the back). (Or in general press 2ndF MODE to clear all the saved data).

Set your MODE to BEGIN by pressing 2ndF FV.

press 180 N

press 9 i/y

press 2ndF I/Y - press 12 ENT (this puts in your compounding intervals).

Press on

press +/- 35 000 PV

press 446 659 FV

Press COMP PMT.

This should give you the answer of -819.23 as expected :)

Firstly, can i recommend resetting the calculator (There is a reset button on the back). (Or in general press 2ndF MODE to clear all the saved data).

Set your MODE to BEGIN by pressing 2ndF FV.

press 180 N

press 9 i/y

press 2ndF I/Y - press 12 ENT (this puts in your compounding intervals).

Press on

press +/- 35 000 PV

press 446 659 FV

Press COMP PMT.

This should give you the answer of -819.23 as expected :)

Jul 18, 2017 | Sharp EL-738 Scientific Calculator

I get an answer of 366.91 in my 12C as well. You might try either putting in a zero for FV before hitting the [PMT] key, or clearing your registers before doing the problem, as you may be picking up an old value from a previous problem in the FV register.

Jan 17, 2008 | HP 12c Calculator

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