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Texas Instruments BA II Plus Financial Calculator Manual
Set Number of decimal places
- Press the
[2nd]key and the[FORMAT]key. - Press
0-9(Default 2) - Press
[Enter]
Time-Value-of-Money and Amortization Worksheets
Use the Time-Value-of-Money(TVM) varaibles to solve problems with equal and regular cash flows that are either all inflows or all outflows (for example, annuities, loans, mortgages, lease, and saving.)
TVN and Amortization Worksheets Variables
| Variable | Key | Type of Variable |
|---|---|---|
| Number of periods | N | Enter-or-compute |
| Interest rate per year | I/Y | Enter-or-compute |
| Present Value | PV | Enter-or-compute |
| Payment | PMT | Enter-or-compute |
| Future value | FV | Enter-or-compute |
| Number of payments per year | 2nd P/Y | Enter-only |
Computing Mortgage Loan Monthly Payments
What is the monthly payments on a mortgage for $75,000 at 5.5% for 30 years.
- P/Y = 12
- PV = 75,000
- I/Y = 5.5%
- N = P/Y * 30 = 360
- PMT = ?
| To | Press | Display |
|---|---|---|
| Set payments per pay to 12 | 2nd P/Y 12 Enter | P/Y = 12.0 |
| Return to standard-calculator mode | 2nd QUIT | 0.00 |
| Enter number of payments using payment multiplier | 30 2nd xP/Y N | N = 360.0 |
| Enter interest rate | 5.5 I/Y | I/Y = 5.50 |
| Enter load amount | 75000 PV | PV = 75,000.00 |
| Compute payment | CPT PMT | PMT = -425.84* |
Answer: The monthly payments are $425.84.
Computing the interest rate of a mortgage
What is the interest rate on a mortgage for $75,000 with payments of $576.69 each month for 360 months?
- P/Y = 12
- N = P/Y * 30 = 360
- PV = 75,000
- PMT = - 576.69
- I/Y = ?
- Press the
[2nd]key and the[I/Y]key. (This enters the P/Y worksheet.) - Set P/Y to 12 for monthly payments by entering 12 and pressing the
[ENTER]key. This also sets the C/Y (compounding periods) to monthly. - Press the
[2nd]key and the[CPT]key. (This exits the P/Y worksheet.) - Press the
[2nd]key and the[FV]key. (This clears the TVM worksheet.) - Input 75000 and press the
[PV]key. (This stores 75000 to the Present Value register.) - Input 576.69, press the
[+/-]key, and press the[PMT]key. (This stores -576.69 to the Payment register.) - Input 360 and press the
[N]key. (This stores 360 to the N register.) - Press the
[CPT]key and the[I/Y]key.
Computing Present Value in Annuities
Cash Flow Worksheet
Use the Cash flow worksheet to solve problems with unequal cash flow.
Cash Flow Worksheet Variables
| Variable | Key | Type of Variable |
|---|---|---|
| Initial cash flow | CF | Enter-only |
| Amount of nth cash flow | ⬇︎ | Enter-only |
| Amount of nth cash flow | ⬇︎ | Enter-only |
| Frequency of nth cash flow | ⬇︎ | Enter-only |
| Discount rate | NPV | Enter-only |
| Net present vale | ⬇︎ CPT | Compute-only |
| Internal rate of return | IRR | Compute-only |