Sharp EL-738C User Manual

Procedure

Key operation

Display

Set all the variables to
default values.

. b

000

Make sure ordinary annuity is set (BGN is not displayed).

Set the number of pay-
ments per year to 12.

. w 12 Q

P/Y=

1200

The number of compounding periods per year is automatically set to 12.
Press

s to exit the P/Y and C/Y settings.

Enter the total number
of payments.

s 25 . <
N

ANS~N

30000

Enter payment.

, 900 u

(-9——)~PMT

-90000

Enter the annual inter-
est rate.

5.5 f

5.5~I/Y

550

Set the future value to
zero.

0 T

—~FV

000

Calculate the present
value.

@ v

PV=

14655892

Calculate the down
payment.

s 180000 -
f v =

18————-PV=

3344108

Answer: You can borrow $146,558.92 in total. The price of the

house is $180,000, so:
Down payment = $180,000 – present value

= $180,000 – $146,558.92

You need $33,441.08 for a down payment.

3 Financial FunctionsCurrent.indd 32

06.7.10 8:38:25 PM