00:01
Okay, these kind of problems require a financial package on a calculator.
00:05
They're all there on all the main calculators.
00:07
On the ti 84 plus press the apps button.
00:12
That's the fourth row down, column 2, and at the top you will see finance.
00:18
Press enter.
00:19
You will see tvm solver.
00:23
That's what you need for these kind of problems.
00:26
So select that with the arrow key and the input is as follows.
00:31
Very similar on all of them.
00:34
N is the number of payments you're going to make, number of months in total.
00:40
That's 30 years you're paying monthly, so 30 times 12.
00:45
So n is 360.
00:48
I is always what they give you here, 7 .25 in this case.
00:58
Present value is the amount you are borrowing.
01:01
It comes to you, so it's a plus number.
01:04
So here is 1 .8 million.
01:08
So just type in 1 ,800 ,000.
01:15
Then pmt is next.
01:18
I want to find, so leave that as zero for now.
01:22
You can't leave it blank.
01:23
You're on work.
01:24
Make it zero.
01:26
Future value.
01:28
Well, the loan's paid off.
01:30
That must be zero...