Texas Instruments BA II Plus User Manual

72 BA II PLUS™ Calculator
Example: Compute Equivalent Monthly Payments
(continued from previous example)
Use the net present value (
NPV
) from the Cash Flow worksheet
as the present value (
PV
) in the TVM worksheet to compute the
equivalent even monthly payment that is equivalent to the
uneven cash flows.
Present value (PV) = NPV from Cash Flow worksheet
Interest (I/Y) = 10%
Number of payments (N) = 36
. . .
Payment amount (PMT) = ?
Procedure Keystrokes Display
Set beginning-of-period
payments.
& ]
& V
BGN
Return to calculator mode.
& U
0.00
Enter
NPV
as
PV
and make it
positive.
J
0
S .
PV= 138,088.44

Enter interest per year.
10
-
I/Y= 10.00

Enter number of payments.
36
,
N= 36.00

Compute payment.
% /
PMT= -4,418.90

At the required earnings rate of 10%, the present value of the
lease payments is $138,088.44. An even monthly payment of
$4,418.90 would result in the same present value.

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