Down Payment
К оглавлению1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 1617 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33
34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50
51 52 53 54
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
Time-Value-of-Money and Amortization Worksheets 37
Answer: You can borrow $13,441.47 with a down payment of $1,658.53.
Example: Computing Regular Deposits for a
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
Time-Value-of-Money and Amortization Worksheets 37
Answer: You can borrow $13,441.47 with a down payment of $1,658.53.
Example: Computing Regular Deposits for a