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Started By
Message
re: Using TVM on Financial Calculator
Posted on 8/4/15 at 12:09 pm to southernelite
Posted on 8/4/15 at 12:09 pm to southernelite
That brings PMT to 91.50.
36 PMTs of 91.50 is a total P&I of 3,294. In that scenerio the RoR is 2.94% over the 3 year period, which is right under 1% annually.
I'm missing something here.
ETA:
So I used 6%/12 as the i/y since I'm looking for the 2% average annual return. The APR still comes out right under 3%. I'm assuming the TVM is just compounding?
36 PMTs of 91.50 is a total P&I of 3,294. In that scenerio the RoR is 2.94% over the 3 year period, which is right under 1% annually.
I'm missing something here.
ETA:
So I used 6%/12 as the i/y since I'm looking for the 2% average annual return. The APR still comes out right under 3%. I'm assuming the TVM is just compounding?
This post was edited on 8/4/15 at 12:18 pm
1
Posted on 8/4/15 at 1:05 pm to Cmlsu5618
The effective will be different. 2% APR compounded monthly.
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