Results 1 to 4 of 4

Math Help - Finance( present value, future value etc.)

  1. #1
    Newbie
    Joined
    Oct 2007
    Posts
    3

    Finance( present value, future value etc.)

    *Use the "Finance key on your TI-83, or 84 to solve the following problem*

    Ok I have a problem I have been working on for hours now, and I cannot seem to crack it despite the use of the application on my calculator it is not coming out right, please someone show me the steps on how to do this. it reads as so.....

    A couple wants to buy a motorcycle in 4.5 years. What amount should they invest now at 5.16% interest compounded quarterly in oder to have a $4950 down payment for the motorcycle at the end of the 4.5 years.

    I then have to list the numbers as so....

    N=
    I%=
    PV=
    PMT=
    FV=
    Follow Math Help Forum on Facebook and Google+

  2. #2
    Newbie
    Joined
    Oct 2007
    Posts
    3
    Quote Originally Posted by Slopster View Post
    *Use the "Finance key on your TI-83, or 84 to solve the following problem*

    Ok I have a problem I have been working on for hours now, and I cannot seem to crack it despite the use of the application on my calculator it is not coming out right, please someone show me the steps on how to do this. it reads as so.....

    A couple wants to buy a motorcycle in 4.5 years. What amount should they invest now at 5.16% interest compounded quarterly in oder to have a $4950 down payment for the motorcycle at the end of the 4.5 years.

    I then have to list the numbers as so....

    N=
    I%=
    PV=
    PMT=
    FV=
    well was urgent now I have to go to bed with no answer :/
    Follow Math Help Forum on Facebook and Google+

  3. #3
    MHF Contributor
    Joined
    Aug 2007
    From
    USA
    Posts
    3,110
    Thanks
    2
    N = 4.5* 4 = 18 quarters
    I% = 0.0516 / 4 = 0.0129 quarterly interest rate
    PV = You'll have to solve for this. That is the question
    PMT = $0
    FV = $4950

    You may wish to check your settings for "Beginning of Period" or "End of Period". I'm thinking you'll want "Beginning" on this one.
    Follow Math Help Forum on Facebook and Google+

  4. #4
    Newbie
    Joined
    Oct 2007
    Posts
    3

    tnaks

    Thanks for the reply that is correct, too bad i needed it two weeks ago T_T.

    But seriously thank you, that gives me some understanding for my final
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Future and Present Value
    Posted in the Business Math Forum
    Replies: 1
    Last Post: March 1st 2010, 02:31 PM
  2. Future / Present Value?
    Posted in the Business Math Forum
    Replies: 1
    Last Post: January 25th 2010, 03:38 AM
  3. Future and present value
    Posted in the Algebra Forum
    Replies: 0
    Last Post: October 4th 2009, 11:11 AM
  4. Present , future value
    Posted in the Business Math Forum
    Replies: 1
    Last Post: July 13th 2009, 03:23 PM
  5. Replies: 0
    Last Post: January 20th 2009, 02:34 PM

Search Tags


/mathhelpforum @mathhelpforum