BA II Plus Calculator Manual

36 Time-Value-of-Money and Amortization Worksheets
Answer: Depositing $200 at the beginning of each month for 20 years
results in a future amount of $111,438.31.
Example: Computing Amount to Borrow and
Down Payment
You consider buying a car for $15,100. The finance company charges
7.5% APR compounded monthly on a 48-month loan. If you can afford a
monthly payment of $325, how much can you borrow? How much do
you need for a down payment?
Enter number of payments
using payment multiplier.
20 & Z ,
N=
240.00

Enter interest rate.
7.5 -
I/Y=
7.50

Enter amount of payment.
200 S /
PMT=
-200.00

Compute future value. % 0
FV=
111,438.31

To Press Display
Set all variables to defaults. & } !
RST
0.00
Set payments per year to 12. & [ 12
!
P/Y=
12.00

Return to standard-calculator
mode
& U
0.00
Enter number of payments using
payment multiplier.
4 & Z ,
N=
48.00

Enter interest rate.
7.5 -
I/Y=
7.50

Enter payment.
325 S /
PMT=
-325.00

To Press Display