00:01
Okay, here we are buying an annuity and to work out length of time at last, you need a calculator.
00:08
The ti 84 plus is the best one to use.
00:12
Now what you do is you press the apps button on the calculator just below xt, theta, n.
00:22
So press that.
00:24
And the first one you will see there is finance.
00:27
That's what you need.
00:29
So press enter.
00:29
And then you will see tvm solver at the top.
00:35
So press enter again and then just fill in the required numbers.
00:41
Now the n at the top i want to find.
00:44
So n just leave blank.
00:49
Put zero there in back.
00:50
Put zero here.
00:52
That way remind you.
00:54
So put zero there.
00:55
That will change at the end.
00:58
I is the interest rate.
00:59
So you see i percent.
01:03
That you are told is 6%.
01:05
So put 6 there.
01:08
Pv is present value...