17-4 Miscellaneous Programs and EquationsVariables Used:Example:Part 1. You are financing the purchase of a car with a 3–year (36–month) loan at10.5% annual interest compounded monthly. The purchase price of the car is$7,250. Your down payment is $1,500.N The number of compounding periods.I The periodic interest rate as a percentage. (For example, if theannual interest rate is 15% and there are 12 payments per year,the periodic interest rate, i, is 15÷12=1.25%.)B The initial balance of loan or savings account.P The periodic payment.F The future value of a savings account or balance of a loan.Keys:(In RPN mode)Display: Description:8 () Selects FIX 2 display format.(Ø as needed ) ¨ Displays the leftmost part of theTVM equation.P valueSelects P; prompts for I. Converts your annual interestrate input to the equivalentmonthly rate. valueStores 0.88 in I; prompts for N. valueStores 36 in N; prompts for F.B = 7,250 _ 1,500I = 10.5% p er yearN = 36 monthsF = 0P = ?
