Texas Instruments TI-84 - Manual (Page 392)

Chapter 14: Applications 389
Getting Started: Computing Compound Interest Getting Started: Computing Compound Interest Getting Started: Computing Compound Interest Getting Started: Computing Compound Interest
At what annual interest rate, compounded monthly, will 1,250 accumulate to 2,000 in 7
years?
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
L250 to PMT . (Negation indicates cash outflow.) Press 0
Í to store 0 to
FV .
Press 12
Í to store 12 payments per year to
P/Y
and 12 compounding periods per year to C/Y . Setting
P/Y to 12 will compute an annual percentage rate
(compounded monthly) for
æ. Press † Í to select
PMT:END , which indicates that payments are due at the
end of each period.
4. Press
} } } } } } to move the cursor to the æ
prompt. Press
ƒ \ to solve for æ. What APR
should you look for?