Using the Finance Solver APP | TI-84 Plus CE | Getting Started Series – Calculator Home Screen #Finance

hello and welcome to another lesson on the ti 84 plus ce student course in this CashNews.co we’re focusing on using the Finance solver and some of the things

we’re going to look at are the inputs in the Finance solver and what each of those variables mean on the screen we’re also going to use the

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance solver to solve some problems using compound interest and payments and then lastly we’re going to talk about how we can bring some of those variables from the

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance solver onto the main screen in case you want to do any further calculations okay so accessing the #1a73e8; text-decoration: none;">Finance solver is run through the apps menu so hit your abs button just below the x and then you’ll notice the very first thing that comes up there says text-decoration: none;">Finance so if we go in there um we can see there’s a whole lot of things coming down here but most of the stuff that that students at school need to focus on with using the #1a73e8; text-decoration: none;">Finance server is just that number one the tvm solver and that stands for time value money so if we go into there so pressing enter to go into that one we come up with this screen which has a whole lot of different variables on it so i’m just

going to run you through what each of these mean and then we’re going to go through some examples where we uh use these variables to solve some problems so n there that stands for the number of periods uh the i stands for the interest rate and that’s as a percentage so you input that

value um just as a percentage there’s no need to change it into a decimal pv stands for the present value pmt stands for payment fv stands for the future value p y and the c dash y that stands for payments per year and compounds per year as well and then you’ve got that very last thing

down the end of the screen that says end and begin so you’ll find that most questions that you need to answer you’ll just want to have that fixed on end there is an occasion though when you would want to um highlight the other option which is begin and that’s when you’re

putting in money at the start of a compound period rather than at the end but like i said for most of the times you want to have that end part highlighted so to our first example we’re going to find the future value of seven thousand eight hundred dollars after it’s been invested for

four years at five percent interest per year i guess this is a pretty straightforward question because there’s not a huge amount going on so i’m going to start off first by putting in my interest rate which was five percent so if i go down here i can add in a five remember we put that

in as a percentage so that five percent goes in there um and i know i’m investing seven thousand eight hundred dollars now i’m gonna put that in as a negative and the reason for that is because your tbm solder works on a Cash Flow in Cash Flow out type

basis um so how i like to think about this is if i’m investing this money i’m putting that into the bank which means that i no longer have access to it so that’s negative money for me when i withdraw it it’s going to be positive and you’ll see that our answer at the

end becomes positive because that’s that money we’re getting back out again um how i also set them up if i’m if i’m like borrowing money so if the bank’s giving me money uh i would put that in as positive but then the amount that i’d be paying back at the end

would be negative and again that would be money that i no longer had um so that’s just how i kind of like to think about it and i find that makes it easier but either the present value or the future value one of those should always be negative okay so uh we didn’t have any payments and

we don’t have any compounds per year so we can leave that as is or our compounds per year is just one because it’s happening annually and so i’m going to go back up to my number of in my n here which is the number of periods and so that’s like how many times does that um

interest get calculated so it’s being calculated annually um and just once a year so four years and then once per year um and in the tbm solder you can do any calculations you like actually within each of these different variables so i’m going to hit enter there and then i’m

solving for my future value so i’m going to scroll down to where it says fv and then i’m going to go alpha solve there you can see the little solve on top of the enter and that’s going to bring up my uh future values so in this case after if i invested that money for five for four

years at five percent per year i would eventually have after those four years four 9400 and eighty dollars okay second problem now i’m investing one thousand two hundred dollars into the bank and it’s paying me three percent per year uh but compounding monthly so when i withdrew the

money i now have 1 353 and so i want to find out how many years did i have it in the bank for okay so now i can go back and start filling this in again so again it’s three percent interest per year so i’m gonna put a three into that spot there uh my present value so the amount that i

was investing was one thousand two hundred dollars and again i’m gonna put that in as a negative because that’s money that i no longer have again no payments but i know my future value ended up being 1 353 putting that in again that’s money i’m getting back from the bank so

that becomes positive because that’s my money but i did have compounds per year so my payments per year is going to be 12 because that money is being reinvested 12 times and same with the compounds per year being 12 as well okay so now i wanted to find out how many years i had this in the

bank for so remembering our last one we solved that by having the number of years times by the number of periods so when i solve for this one so i’m going to go alpha enter again i can see i end up with 48 there so that’s 48 periods altogether but i know that it’s being reinvested

12 times so if i divide this number by 12 and press enter i get 4 so that’s how many years i had that reinvested for if i didn’t want to do that division within the app because it does sometimes look a little bit funny the other thing i could do as well is bring up that 48 into the main

screen so back in the main screen of my calculator go back into the apps back into Finance but now i’m going to go across to vars on the side here and i’m going

to bring down that 48 from the number of periods so i’m going to press enter on n bring that up and i can see there it comes up as 48 from there i can do my calculations so i’m going to divide that by um uh by 12 sorry dividing by 4 to 4 with my answer i’m dividing by 12 and there

i get my answer of four so it was four years altogether okay so our last example and this one is a little bit tricky is we’re investing 650 into a bank account that pays five percent interest per annum compounded quarterly we’re also adding a payment of unknown amount each quarter as

well and after 11 years my bank account now has 10 000 in it so what we’re trying to find is how much was that unknown payment that we were putting into that account every quarter so i’m gonna get my text-decoration: none;">Finance solver up okay and the very first thing i’m putting in same as before is my interest per atom so that’s five percent there the next is that i’m going to put in my my present value that’s the initial amount i put in my account and

remember we’re putting that into the bank so we no longer have it so i’m going to put in negative 650 and then the future value um that’s what we received back at the end was ten thousand dollars okay we’re making four payments per year and there’s also four compounds

per year um and right up here where our number of compounding periods well it’s 11 years and there’s four per year so all together then 44 periods so we’re solving for our payment amount so we’re going to have a look at this so alpha and then enter to solve and we can see

they’re 152.56 okay well that’s it for me um and i hope you guys have a great day and i’ll see you next time you