user manual

14-10 Financial Functions
8314FINA.DOC TI-83 international English Bob Fedorisko Revised: 02/19/01 12:50 PM Printed: 02/19/01 1:38 PM
Page 10 of 14
You want to buy a home with a 30-year mortgage at 8
percent APR. Monthly payments are 800. Calculate the
outstanding loan balance after each payment and display
the results in a graph and in the table.
1. Press
z
. Press
† ~ ~ ~ Í
to set the
fixed-decimal mode setting to
2. Press
† † ~ Í
to
select
Par graphing mode.
2. Press
y
[
FINANCE
]
Í
to display the
TVM Solver
.
3. Press
360 to enter number of payments. Press
†
8 to
enter the interest rate. Press
† † Ì
800 to enter the
payment amount. Press
†
0 to enter the future value of
the mortgage. Press
†
12 to enter the payments per
year, which also sets the compounding periods per year
to
12. Press
† † Í
to select PMT:END.
4. Press
} } } } }
to place the cursor on the PV prompt.
Press
ƒ
[
SOLVE
] to solve for the present value.
5. Press
o
to display the parametric
Y=
editor. Turn off all
stat plots. Press
„
to define
X
1T
as T. Press
† y
[
FINANCE
] 9
„¤
to define Y
1T
as bal(T).
Amortization
Example:
Calculating an
Outstanding
Loan Balance