Texas Instruments BA II Plus User Manual

52 BA II PLUS™ Calculator
Amount to Borrow and Down Payment
You want to buy a car that sells for $5,100. The finance
company charges 13.51% APR, compounded monthly, on a
48-month loan. If you can afford a monthly payment of $125,
how much can you borrow? How much do you need for the
down payment?
Example: Loan Amount and Down Payment
Calculate the loan amount. Then subtract it from the cost of the
car to find the down payment.
PV = ? FV = $0
$125 $125 $125
. . .
0 1 47 N=48
I/Y = 13.51 ÷ 12
Procedure Keystrokes Display
Set all variables to defaults.
& } !
RST 0.00
Enter number of payments
using payment multiplier.
4
& Z ,
N= 48.00

Enter monthly interest rate.
13.51
-
I/Y= 13.51

Enter payment.
125
S /
PMT= -125.00

Compute loan amount.
% .
PV= 4,615.73

Calculate down payment.
H
5100
S N
-484.27
To buy the car, you can borrow $4,615.73 and make a down
payment of $484.27.

Texas Instruments BA II Plus Specifications

General

Type	Financial
Cover	-
Form factor	Pocket
Control type	Buttons
Product color	Black
Digits	10 digits
Display tilting	No
Display number of lines	1 lines
Memory registers	10
Power source	Battery