Question about Texas Instruments TI-83 Plus Calculator

# I need to calculate the monthly payment of a car worth \$18000 w/o tax, 1.9% intrest / year compounded monthly for 5 years...how do i set up the equation?

Posted by on

• Level 3:

An expert who has achieved level 3 by getting 1000 points

One Above All:

The expert with highest point at the last day of the past 12 weeks.

Top Expert:

An expert who has finished #1 on the weekly Top 10 Fixya Experts Leaderboard.

Superstar:

An expert that gotÂ 20 achievements.

• Texas Instru... Master

Press the APPS key, select the Finance app, and then TVM_Solver.

For N, enter 5 * 1 2 for 5 monthly payments.
For I%, enter 1 . 9 / 1 2 for the monthly interest rate.
For PV, enter 1 8 0 0 0 for the present value of the loan.
Make sure "END" is highlighted on the bottom line.
Move the cursor to the "PMT" line and press ALPHA ENTER to compute the monthly payment. You'll get a negative number since this represents something you pay out.

Posted on Apr 03, 2011

## 1 Suggested Answer

Hi,
A 6ya expert can help you resolve that issue over the phone in a minute or two.
Best thing about this new service is that you are never placed on hold and get to talk to real repairmen in the US.
The service is completely free and covers almost anything you can think of (from cars to computers, handyman, and even drones).
click here to download the app (for users in the US for now) and get all the help you need.
Good luck!

Posted on Jan 02, 2017

×

my-video-file.mp4

Complete. Click "Add" to insert your video.

×

## Related Questions:

### What is the formula to figure 4% daily on 380,000.00 ? Or on any amount ?

premium X % X time
so 380,00000 X4/100 X 1 year
it calculated as the amount ( premium ) multiplied by the percentage of 100 multiplied by the period in years or parts of a year
so it can be 100 X 25% or 1/4(25/100) by the period (5 years or daily (1/365 of a year)
This is known as simple interest
compound interest is calculated on remaining premium after payment X the interest rate by the day or week or month
so for example 100 X 4/100 X 1/12 is the first calculation for the month and for the next month the calculation will be premium of 80 ( if a 20 payment was made in the month X 4/100 X 1/12 and so on if payment are made on time
pm the other hand if no payment are made then the premium goes up by the interest rate
so for the next month it is 104 X 4/100 X 1/12 and the month after that 108.16 X 4/100 X 1/12.and so on
banks use compound when calculating home loan repayments and simple interest when paying interest on your deposits
( has to be in the bank for 367 days to get the interest paid )

Nov 30, 2017 | The Computers & Internet

### I cannot get the textbook answer (online calculators are also the same as textbook answer) using my sharp calculator EL738: Monthly payment for \$184,500 at 6.75% interest semi annually, for 5 year term...

Your result is for the 6.75% interest compounded monthly. The problem states that the interest is compounded semiannually. This makes a difference in the effective interest rate.

A 6.75% APR compounded semiannually gives an effective interest rate of about 6.864%:
Press 2 , 6 . 7 5 2nd >EFF

Converting this to APR gives about 6.657%:
Press 1 2 , 6 . 8 6 4 2nd >APR

If you use 6.657 for the interest rate instead of 6.75 you should get the correct result.

Feb 22, 2011 | Sharp EL-738 Scientific Calculator

### I would like step by step instructions on how to solve a simple TVM equation. i.e. I invest a lump sume of \$2400 in an investment that returns 6% annually. How much will the investment be worth after ...

GOOD QUESTION, Patweetyp...

I've got you covered.

Seeing how it's been three weeks since you posted this there's a chance you've already gotten your answer, but let me go ahead solve this for those out there who may have had the same problem.

Background: There are FIVE TVM Keys; and as you would assume, you MUST input FOUR of them in order for the BA II Plus to solve for the fifth. Now let's get down to business.

1. Hit CLR TVM. [This is just a cleanup maneuver]
1a. Hit ENTER [yes, BA II Plus always needs to be told to store the value, ALWAYS]
2. Type in -2400
3. Hit PV [Since you are investing money at time 0, your present value is negative 2400]
3a. Hit ENTER
4. Type 6
5. Hit I/Y [Your annually compounded interest rate is 6 percent]
5a. Hit ENTER
6. Type 0
7. Hit PMT [you do not have any recurring deposits*]
7a. Hit ENTER
8. Type 1
9. Hit N [there is one year until expiration/liquidation/termination]
9a. Hit ENTER
10. Hit CPT
11. Hit FV [this is your ANSWER = 2544]
----- From here, all you would need to do is change N in order to get your other answers (5 years, 10 years, etc) ----

*If your calculation does not require a recurring payment then you really just have a basic equation of value which would be solved faster by hand. (IE, 2400*(1.06)^1=FV=2544).

You'll notice that I underlined "annually compounded" as well as "one year". The reason for this is because you ALWAYS need your interest term to match your time interval. For instance, if you had monthly payments of which you wanted the year-end total you would need a monthly effective interest rate, and N would be 12.

Okay, I hope that helped. The BAII Plus is the best calculator for time-value-money calculations I've come across. When things get more advanced, you will start using the amortization table which cannot be found in any other TI Calculator (from what I know). TVM is perfect for annuities, mortgages, loans, bonds, and more.

411@themathcheetah.com for more questions.
TEXAS INSTRUMENTS = 1-800-TI-CARES...they are friendly.

Feb 19, 2011 | Texas Instruments BA-II Plus Calculator

### Trying to solve for present value of a monthly lease payment when the payments begin in 2013 and go for 5 years. Payment is fixed at \$2,500 per month for 5 years, but how do I calculate this without doing...

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)

Feb 14, 2011 | HP 12c Calculator

### Lent someone my calculator and now when I try to figure a payment it is too great, I put in \$100,000 @ 5% 360 Months and it is giving me a payment of \$5000.00 not sure how to get it right

You have your payments-per-year set to 1 and the calculator is showing an annual payment of \$5000. Press 2nd [P/Y] 1 2 ENTER 2nd [QUIT] to change it to twelve (monthly). Now pressing CPT PMT should give you a monthly payment of \$536.82.

Nov 10, 2010 | Texas Instruments BA-II Plus Calculator

### How do I calculate a mortgage payment?

If \$100,000.00 loan: enter 100000. in pv, if interest rate is 5%, enter 5 divided by 12 = %i if 30 year mortgage, enter 360 N enter 2nd PMT to get monthly principle and interest. You may have already solved this problem.

Aug 19, 2010 | Texas Instruments BA Real Estate...

### Borrowed 18ooo-repay loan equal monthly payments in the next 5 years.how much are monthly payments if interest is 5.5% compounede monthly-how much will pay in interest over the term of loan-how do i set...

Once you're in the TVM solver:
On the top line (N=) type in 5 * 12 ENTER for five years of month payments.
On the I% lline type in 5.5 / 12 ENTER for the month interest rate.
On the PV line type in 18000 ENTER
Make sure the FV is 0 and END is highlighted on the bottom line.
Move the cursor to the PMT line and press ALPHA [SOLVE] (that's ALPHA ENTER) and see -343.82 for the monthly payment.

Jan 17, 2010 | Texas Instruments TI-83 Plus Calculator

### TI 83

Yes you can use it, here is the formula: Y= V(t+ (i/c))^(tc) V=amount put in, t=time, i=intrest rate, c= amount of times it is compounded.
(I know this because I have a TI-83 calculator)

Mar 27, 2009 | Texas Instruments TI-83+ Graphing...

### Loan Balance

set your p/y to 12( compounding periods per year). I think you are calculating for a one year loan?

Nov 18, 2008 | Texas Instruments BA-II Plus Calculator

## Open Questions:

#### Related Topics:

154 people viewed this question

## Ask a Question

Usually answered in minutes!

Level 3 Expert

Level 2 Expert