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34 Time-Value-of-Money and Amortization Worksheets
Answer: Peach Bright should pay your company $40,573.18 for the
machine.
Example: Computing Other Monthly Payments
If you finance the purchase of a new desk and chair for $525 at 20% APR
compounded monthly for two years, how much is the monthly payment?
Answer: Your monthly payment is $26.72.
Enter lease payment amount.
1200 S/
PMT=
-1,200.00
1
Compute present value of lease
payments.
C.
PV= 40,573.18
7
To Press Display
Set all variables to defaults. &}!
RST 0.00
Set payments per year to 12. &[12 !
P/Y=
12.00
1
Return to standard-calculator
mode
&U
0.00
Enter number of payments using
payment multiplier.
2 &Z,
N=
24.00
1
Enter interest rate. 20 -
I/Y=
20.00
1
Enter loan amount. 525 .
PV=
525.00
1
Compute payment.
C /
PMT=
-26.72
7
To Press Display
Set all variables to defaults. &}!
RST 0.00
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