Texas Instruments BA II Plus User Manual

2: TVM and Amortization Worksheets 53
Regular Deposits for a Specified Future Amount
You plan to open a savings account and deposit the same
amount of money at the beginning of each month. In 10 years,
you want to have $25,000 in the account. How much should you
deposit if the annual interest rate is 7% with quarterly
compounding?
C/Y
(compounding periods per year) is automatically set to
equal
P/Y
(payments per year), so you need to set
C/Y
.
Example: Monthly Deposits Compounded Quarterly
Procedure Keystrokes Display
Set all variables to defaults.
& } !
RST 0.00
Set compounding periods to 4.
& [
#
4
!
P/Y=
C/Y=
12.00
4.00

Set beginning-of-period
payments.
& ]
& V
BGN
Return to calculator mode.
& U
0.00
Enter number of deposits
using payment multiplier.
10
& Z ,
N= 120.00

Enter interest rate.
7
-
I/Y= 7.00

Enter future value.
25000
0
FV= 25,000.00

Compute deposit amount.
% /
PMT= -143.92

You need to make monthly deposits of $143.92.

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