Getting started: financing a car – Texas Instruments TI-83 PLUS User Manual

Page 443

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TI-83 Plus

Applications

440

Getting Started: Financing a Car

Getting Started is a fast-paced introduction. Read the chapter for details.

You have found a car you would like to buy. The car costs 9,000. You can afford
payments of 250 per month for four years. What annual percentage rate (APR) will
make it possible for you to afford the car?

1. Press

z

~

~

~

Í

to set the fixed-

decimal mode setting to

2

. The

TI-83 Plus

will

display all numbers with two decimal places).

2. Press

Œ

Í

to select

1:Finance

from the

APPLICATIONS

menu.

3. Press

Í

to select

1:TVM Solver

from the

CALC VARS menu. The

TVM

Solver

is displayed.

Press

48

Í

to store 48 months to

Ú

. Press

9000

Í

to store 9,000 to

PV

. Press

М

250

Н

to store

L

250 to

PMT

. (Negation indicates

cash outflow.) Press

0

Í

to store 0 to

FV

.

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