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Using TVM on Financial Calculator
Posted on 8/4/15 at 10:49 am
Posted on 8/4/15 at 10:49 am
I'm embarrased to say I can't seem to figure this out.
Anyways; here's the situation. I want to calculate a simple interest annual rate of return of 2% over a 3 year period.
The initial loan amount is $3,200, and payments will be monthly. I can't seem to remember exactly how to adjust the P/Y, I/Y, & N to get the right numbers.
Again, I don't want to RoR to be compounded or amortized. Just a level payment 2% RoR on the initial outlay. Before you jump on me, this is a below market rate loan for family.
Thanks folks.
Anyways; here's the situation. I want to calculate a simple interest annual rate of return of 2% over a 3 year period.
The initial loan amount is $3,200, and payments will be monthly. I can't seem to remember exactly how to adjust the P/Y, I/Y, & N to get the right numbers.
Again, I don't want to RoR to be compounded or amortized. Just a level payment 2% RoR on the initial outlay. Before you jump on me, this is a below market rate loan for family.
Thanks folks.
2
Posted on 8/4/15 at 10:49 am to Cmlsu5618
It shouldn't matter, but I'm using a BA II Plus.
I also know that I can simply take 2% X $3,200 and do some basic arithmetic. But I'd like to refresh myself on how to use TVM if anyone can help.
I also know that I can simply take 2% X $3,200 and do some basic arithmetic. But I'd like to refresh myself on how to use TVM if anyone can help.
This post was edited on 8/4/15 at 10:53 am
Posted on 8/4/15 at 10:56 am to Cmlsu5618
Use 2/12 for I/Y
Use 3*12 for N
There are other ways to do it, but that's the simplest.
Use 3*12 for N
There are other ways to do it, but that's the simplest.
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