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Using the TVM Solver to find the Present ValueWhen deciding whether a question is looking for Future Value (Amount) or Present Value, look for key words. Present value questions usually use the words, ’ borrow’, ’today’, ‘financed’, and ’immediately’. N= I%= PV=PMT=FV=P/Y=C/Y=PMT: END BEGINTo reset the graphing calculator press: 2nd, +, 7, 1, 2To set to 2 decimal places: MODE, →, ↓, ↓, ↓, ENTERTo get to the TVM solver press: APPS, 1, 1To solve once you’ve entered your data press: ALPHA, ENTER EX: Dylan financed a truck at 11.7% per year compounded monthly. He will pay back his loan by making monthly payments of $325 over 5 years. How much did Dylan buy the truck for?Connor borrows money to pay for college at 4.4% per year compounded semi-annually. He plans to repay his loan by making semi-annual payments of $550 over 6 years. How much money did Connor borrow?Evan won a scholarship that will pay him $1150 every two weeks (26 times per year) for 2 years. If the money can be invested at 7.4% per year, compounded every two weeks, what cash payment received immediately is equivalent to the scholarship?Use the TVM solver on the graphing calculator to solve pg. 423 # 5, 11 ................
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