TI-89/TI-92 Plus/Voyage™ 200

TI Finance Application

Getting Started
Start here

How To…
Edit values in the TVM Solver
Calculate TVM outside the TVM Solver
Calculate cash flows

Examples
Financing a Car
Calculating Interest on a Fixed Payment
Amortization

More Information
Finance Functions Error Messages
Customer Support

2/7/02 © 2000–2002 Texas Instruments

Important Information
Texas Instruments makes no warranty, either expressed or
implied, including but not limited to any implied warranties of
merchantability and fitness for a particular purpose, regarding any
programs or book materials and makes such materials available
solely on an “as-is” basis.

In no event shall Texas Instruments be liable to anyone for

special, collateral, incidental, or consequential damages in
connection with or arising out of the purchase or use of these
materials, and the sole and exclusive liability of Texas
Instruments, regardless of the form of action, shall not exceed the
purchase price of this product. Moreover, Texas Instruments shall
not be liable for any claim of any kind whatsoever against the use
of these materials by any other party.

This graphing product application (APP) is licensed. See the

terms of the license agreement.

Microsoft, Windows, Windows NT, Apple, Macintosh, Mac, and Mac OS are trademarks of
their respective owners.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 2

The Time-Value-of-Money (TVM) Solver
Use time-value-of-money (TVM) functions to analyze financial
instruments such as annuities, loans, mortgages, leases, and
savings.

The TVM Solver screen automatically displays when you run the
Finance application. It displays the time-value-of-money (TVM)
variables: Ú, æ, PV, PMT, FV. Given four variable values, the TVM
Solver solves for the fifth variable.

To access the variables outside the TVM editor, press

2 °. They are located in the Finance folder. (Exit the
TVM Solver, and then press 2 ° to display the TVM
variables. Otherwise, the variable currently highlighted by the
cursor in the TVM Solver will not display in the VAR-LINK variable
list.)

Press C and D to move the cursor between variables. After

entering a new value, press D or ¸ to save it. To solve for
the unknown variable, press „ Compute or ¥ ¸.

Note The VAR-LINK Finance folder (where TVM variables are stored)
is used by this application and previously-stored data can be
overwritten without notification. Avoid using this folder for storing
personal data.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 3

 TVM
variables Default Definition Value Type
N 0 Number of payment periods real number
I 0 Annual interest rate (converted to a real number
per-period rate based on the values
of PpY and CpY)
PV 0 Present value real number
PMT 0 Payment amount real number
FV 0 Future value real number
PpY 1 Payments per year integer > 0
CpY 1 Compounding periods per year integer > 0
END END Set annuity due (i.e. specify whether N/A
BEGIN payment is at the end or beginning
of each period)

When you store a value to PpY in the TVM Solver only, the value
for CpY automatically changes to the same value. To store a
unique value to CpY, you must store the value to CpY after you
have stored a value to PpY. If you store a value to PpY outside the
TVM Solver, the value for CpY does not change.

Note Enter cash inflows as positive numbers, and cash outflows as

negative numbers.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 4

 To solve for an unknown TVM variable, follow these steps.

1. Press O.
Default TVM values.
2. Highlight Finance with the cursor and (ƒ 8:Clear Editor)
press ¸.

3. Enter the known values for N, I%, PV

and FV. Press D or ¸ to save each
new value.

4. Enter a value for PpY, which

automatically enters the same value for
CpY; if PpY ƒ CpY, enter a unique value
for CpY.

5. Select END or BEGIN to specify the

payment method by highlighting the
option with the cursor and pressing
¸.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 5

 6. Place the cursor on the TVM variable
for which you want to solve (i.e. PMT).

7. Press „ Compute. The answer is

computed and displayed and stored to
the appropriate TVM variable. An
indicator calculator in the left column
designates the solution variable.

Editing Values in the TVM Solver

The following calculator editing keys are available in the TVM

Solver. For more detailed explanation, see the product guidebook
(education.ti.com/guides).

Cursors: C, D, A, and B
Deletion options: 0, ¥ 0, ƒ 7:Delete
Insertion: 2 /
Clear options: M, ƒ 8:Clear Editor

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 6

 The F1 Toolbar

The ƒ Toolbar functions are exactly like the ƒ Toolbar on the

on the Home screen. You can Cut, Copy, and Paste information
within the TVM Solver. All information is placed on the calculator
clipboard for use either within or outside the application. Paste
inserts the contents of the clipboard at the current cursor location
(both within or outside the application).

Note 4: Cut is not the same as 7: Delete. When you delete

information, it is not placed in the clipboard and cannot be
retrieved.

To clear all TVM variable values and reset all options to their
defaults, select 8:Clear Editor.

To find out the application software version of the application,

select A: About. Press N or ¸ to close the screen.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 7

 Calculating TVM Outside of the TVM Solver

All TVM and finance functions are listed in the ½ for use
outside of the TVM Solver. Each TVM function takes zero up to
six arguments.

Function calculations outside the TVM Solver do NOT save the

results in memory. To save a value to a TVM variable use the
following syntax:

value § TVM_variable ¸

Access a TVM_variable from the VAR-LINK menu, Finance folder.

TIFinance precedes a function name and finance\ precedes a
variable name when pasted outside the TVM Solver.

Note The VAR-LINK Finance folder (where TVM variables are stored)
is used by this application and previously-stored data can be
overwritten without notification. Avoid using this folder for storing
personal data.

If you enter less than six arguments, the calculator substitutes the
currently stored TVM variable value for each unspecified
argument. If you enter any arguments with a TVM function, you
must place the argument or arguments in parentheses, separated
by commas (b).

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 8

 tvm_N

The tvm_N function calculates the number of payment periods.

tvm_N(I,PV,PMT,FV,PPY,CPY)

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 9

 tvm_I

The tvm_I function calculates the interest rate per year.

tvm_I(N,PV,PMT,FV,PPY,CPY)

Function calculations do not

save results in memory.

I% is now the
new rate.

Use § to save the

new result for i in
memory.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 10

 tvm_PV

The tvm_PV function calculates the present value.

tvm_PV(N,I,PMT,FV,PPY,CPY)

tvm_Pmt

The tvm_Pmt function calculates the amount of each payment.

tvm_Pmt(N,I,PV,FV,PPY,CPY)

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 11

 tvm_FV

The tvm_FV function calculates the future value of money.

tvm_FV(N,I,PV,PMT,PPY,CPY)

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 12

Finance Functions

Catalog
This application adds all Finance functions to the catalog for use
in calculations outside of the TVM Solver. To access them, press
½ (TI-89), press … (Flash Apps), and press C and D to
scroll the list of Finance functions. Pressing ¸ while the
indicator points to the name pastes it to the previous screen in
the form of TIFinance.name.
To solve for a Finance function, include the appropriate
arguments (See Argument Definition Table) separated by b and
ending with d.

Sending the Application to Another Calculator with Var-Link

If you send the Finance application to another calculator, the
other calculator receives the application, including all finance
functions as well as the TVM variables defined to their default
values (not as they might be currently defined). If you want to
send stored variable values, first send the application, then send
the variables using 2 °.
Note After pressing 2 °, the finance variables are listed in
the Finance folder. To access the function names, press ‰ on
the TI-92 Plus / Voyage™ 200 PLT or 2 ‰ on the TI-89.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 13

 Calculating Cash Flows

Use the cash flow functions, npv and irr, to analyze the value of
money over equal time periods. You can enter unequal cash
flows, which can be cash inflows or outflows. The syntax
descriptions for npv( and irr( use these arguments.
Catalog Variables/ Arguments Definition

npv(InterestRate,CFO,CFList[CFFreq]) net present value; the sum of

the present values for the cash
inflows and outflows. A positive
result for npv indicates a
profitable investment.
irr(CFO,CFList[,CFFreq]) internal rate of return; the
interest rate at which the net
present value of the cash flows
is equal to zero.

• interest rate is the rate by which to discount the cash flows (the
cost of money) over one period.
• CF0 is the initial cash flow at time 0; it must be a real number.

• CFList is a list of cash flow amounts after the initial cash flow
CF0.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 14

 • CFFreq is a list in which each element specifies the frequency
of occurrence for a grouped (consecutive) cash flow amount,
which is the corresponding element of CFList. The default is
1; if you enter values, they must be positive integers < 10,000.

For example, for the following cash flow function:

5000 6000 6000 2000 2000

M8,000 M8,000 M3,000

CF0 = 5000
CFList = {6000,L8000,2000,L3000}
CFFreq = {2,2,2,1}

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 15

 Calculating Amortization

Use the amortization functions (bal, GPrn,GPrn) to calculate

balance, sum of principal, and sum of interest for an amortization
schedule.
Definition (for an amortization
Catalog Variables/ Arguments schedule)

bal(npmt[,roundvalue]) Schedule balance; based on stored

values for I, PV, PMT, PpY, and CpY.
ΣInt(PMT1,PMT2[,roundvalue]) The sum of the interest during a
specified period. Based on stored
values for I, PV, PMT, PpY, and CpY.
ΣPrn(PMT1,PMT2,[,roundvalue]) Sum of the principle during a
specified period; based on stored
values for I, PV, PMT, PpY, and CpY.

• npmt is the number of the payment at which you want to

calculate a balance. It must be a positive integer < 10,000.
• roundvalue specifies the internal precision the calculator uses
to calculate the balance. If you do not specify roundvalue, then
the calculator uses Float 2 decimal-mode setting.
• PMT1 is the starting payment. PMT2 is the ending payment in
the range. PMT1 and PMT2 must be positive integers < 10,000.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 16

 • To display G on the homescreen, press ¥ and c at the same
time, and then press ¤ S.

Note You must enter values for I, PV, and PMT before computing the
principal.

Calculating Interest Conversion

Use the interest conversion functions to convert interest rates

from an annual effective rate to a nominal rate, 4Nom, or from a
nominal rate to an annual effective rate, 4Eff.
Catalog Variables/ Arguments Definition

nom(effective_rate,compounding_periods) Computes the nominal

interest rate.
eff(nominal_rate,compounding_periods) Computes the effective
interest rate.

• effective rate must be a real number.

• nominal rate must be a real number.

• compounding periods must be a real number > 0.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 17

 Finding Days Between Dates

Use the date function dbd( to calculate the number of days

between two dates using the actual-day-count method.
Catalog Variables/ Arguments Definition

dbd(date1,date2) Number of days between 2 dates.

• date1 and date2 can be numbers or lists of numbers within the

range of the dates on the standard calendar. If both date1 and
date2 are lists, they must be the same length.

• date1 and date2 must be between the years 1950 through 2049.

You can enter date1 and date2 in either of two formats. The
decimal placement differentiates the date formats.
• MM.DDYY (United States)
• DDMM.YY (Europe)

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 18

 Defining Payment Method

The Pmt_End and Pmt_Bgn functions specify a transaction as an

ordinary annuity or an annuity due. When you execute either
command, the TVM Solver is updated. Neither function requires
any arguments.

Pmt_End ( )

Pmt_End (payment end) specifies an ordinary annuity, where

payments occur at the end of each payment period. Most loans
are in this category. Pmt_End is the default.

On the TVM Solver’s PMT:END BEGIN line, select END to set PMT
to ordinary annuity.

Pmt_Bgn ( )

Pmt_Bgn (payment beginning) specifies an annuity due, where

payments occur at the beginning of each payment period. Most
leases are in this category.

On the TVM Solver’s PMT:END BEGIN line, select BEGIN to set

PMT to annuity due.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 19

 pmt_at

p,p,pm pm ppmpmt_at is a variable which specifies annuity due

depending on what value has been stored to it. If pmt_at=1, then
annuity due=Begin. If pmt_at=0, then annuity due=End. This is
located in the 2 ° Finance folder.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 20

Finance Examples

Example 1 — Financing a Car

You have found a car you would like to buy. The car costs
$9,000. You can afford payments of $250 per month for four
years. What annual percentage rate (APR) will make it possible
for you to afford the car?

1. Press 3. Press D D B 3 to
highlight FIX 2.

Press ¸ ¸ to return to previous

screen.

2. Press O.

3. Highlight Finance with the cursor and

press ¸ to open the application.
The TVM Solver is displayed.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 21

 4. Enter known values: N=48; PV=9000;
PMT=M250 (Negation indicates cash
outflow.); FV=0; PpY=12 (computes an
annual percentage rate); CpY=12;
PMT=END.

5. Move the cursor to the I% prompt. Press

„ Compute to solve for I%.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 22

 Example 2 — Calculating Interest on a Fixed Payment

At what annual interest rate, compounded monthly, will $1,250

accumulate to $2,000 in 7 years?

Note Because there are no payments when you solve compound

interest problems, PMT must be set to 0 and PpY must be set to 1.

1. Press 3. Press D D B 3 to
highlight FIX 2.

Press ¸ ¸ to return to previous

screen.

2. Press O.

3. Highlight Finance with the cursor and

press ¸ to open the application.
The TVM Solver is displayed.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 23

 4. Enter known values: N=7; PV=M1250
(Negation indicates cash outflow or
investment.); PMT=0; FV=2000 (future
value is cash inflow or return); PpY=1;
CpY=12; PMT=END.

5. Place the cursor on the I% prompt.

6. Press „ to solve for I%, the annual

interest rate.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 24

 Example 3: — Amortization

You want to buy a home with a 30-year mortgage at 8% APR.

Monthly payments are $800. Calculate the outstanding loan
balance after each payment and display the results in a graph.

1. Press 3. Press D D B 3 to
highlight FIX 2.

Press ¸ ¸ to return to previous

screen.

2. Press O.

3. Highlight Finance with the cursors and

press ¸ to open the application.
The TVM Solver is displayed.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 25

 4. Press 3. Press B D to highlight
PARAMETRIC graphing mode.

5. Press ¸ ¸ to return to the

TVM Solver.

6. Enter known values: N=360; I%=8;

PMT=M800; FV=0; PpY=12; CpY=12;
PMT=END.

7. Place cursor on the PV prompt.

8. Press „ to solve for PV.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 26

 9. Press ¥ # to display the parametric
Y= editor. Turn off all stat plots.

10. Press Ü ¸ to define XT1 as T.

11. Press ½ … and highlight bal(.

Press ¸ Ü d ¸ to define YT1
as bal(T).

12. Press ¥ $ to display the window

values. Enter the values below:

Tmin=0 Xmin=0 Ymin=0

Tmax=360 Xmax=360 max=125000
Tstep=12 Xscl=50 Yscl=10000

13. Press ¥ % to draw the graph.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 27

 14. Press … Trace to activate the trace
cursor. Press B and A to explore the
graph of the outstanding balance over
time. Press a number and then press
¸ to view the balance at a specific
time T.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 28

Error Messages
Message Description
No Sign Change You attempted to compute I when FV, (N†PMT), and
PV are all ‚ 0, or when FV, (N†PMT), and PV are all
 0.
You attempted to compute irr( when no elements of
CFList nor CFO is > 0, or when no elements of
CFList nor CFO < 0.
One or more TVM Solver An invalid solver variable encountered within the
variables are invalid. Press application.
Enter to overwrite or
• Press ¸ to overwrite.
Escape to return to the
Home screen. • Press N. Go to the Home screen or VAR-LINK
menu to check the variables. Unarchive or
unlock any variables, if necessary. If the value
stored to a variable is not a number, delete it or
save it as a new a new name. Delete the finance
variable.
• Delete the entire folder.
TVM Solver variable is Go to the VAR-LINK menu and unlock or unarchive
locked or archived. Can not any variables. If none are locked or archived, delete
overwrite variable. Exiting the variable.
application.
If N is defined as a data variable or matrix, rename
it and delete the finance variable.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 29

 Message Description
One or more TVM Solver An invalid solver variable encountered outside the
variables are invalid. application. This applies to TVM functions and
Operation canceled. Amortization functions, which both use the stored
TVM Solver variables.
Go to the VAR-LINK menu and unlock or unarchive
any variables. If none are locked or archived, delete
the variable.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 30

Installing the Finance App
Detailed Flash application installation instructions are available
from education.ti.com/guides.

You will need:

• A TI-89 / TI-92 Plus / Voyage™ 200 PLT with the latest
Advanced Mathematics Software Operating System.
Download a free copy from
education.ti.com/softwareupdates.
• A computer using either Microsoftë Windowsë or Appleë
Macintoshë operating system software.
• A TI-GRAPH LINK™ computer-to-calculator cable, available for
purchase from the TI Online Store at education.ti.com/buy.
• Either TI Connect™ software or TI-GRAPH LINK connectivity
software for the TI-89 / TI-92 Plus. Download a free copy
from education.ti.com/softwareupdates.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 31

Starting and Quitting the Application
The instructions in this guidebook refer to this Flash application
only. For help using this product, refer to the comprehensive
guidebook at education.ti.com/guides.

1. Press Πand select Finance.

2. Select the spreadsheet type from the menu.

– Current returns to the last spreadsheet when you left the
Finance App.
– Open lets you select an existing spreadsheet.
– New creates a new spreadsheet. Select a folder in which
to store the spreadsheet. You may accept the default
spreadsheet name or overwrite it. Names must be eight
characters or fewer.

Quitting the Finance App

Press 2 K from any screen.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 32

Deleting an Application
Deleting an application removes it from the handheld device and
increases space for other applications. Before deleting an
application, consider storing it on a computer for reinstallation
later.

1. Quit the application.

2. Press 2 ° to display the VAR-LINK [ALL] screen.

3. Press 2 ‰ (TI-89) or ‰ to display the list of installed

applications.

4. Select the application you want to delete.

5. Press ƒ 1:Delete. The VAR-LINK delete confirmation dialog

box displays.

6. Press ¸ to delete the application.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 33

Texas Instruments (TI) Support and Service Information

For general information

E-mail: [email protected]
Phone: 1-800-TI-CARES (1-800-842-2737)
For US, Canada, Mexico, Puerto Rico, and
Virgin Islands only
Home page: education.ti.com

For technical questions

Phone: 1-972-917-8324

For product (hardware) service

Customers in the US, Canada, Mexico, Puerto Rico, and Virgin
Islands: Always contact TI Customer Support before returning
a product for service.
All other customers: Refer to the leaflet enclosed with your
product (hardware) or contact your local TI retailer/distributor.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 34

End-User License Agreement
BY INSTALLING THIS SOFTWARE YOU AGREE TO ABIDE BY THE FOLLOWING PROVISIONS.
1. LICENSE: Texas Instruments Incorporated (“TI”) grants you a license to use and copy the
software program(s) (“License Materials”) contained on this diskette/CD/web site. You, and any
subsequent user, may only use the Licensed Materials on Texas Instruments calculator
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You may not sell, rent, or lease copies that you make.
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you make copies, do not delete the copyright notice, trademark, or protective notices from the
copies.
4. WARRANTY: TI does not warrant that the Licensed Materials or documentation will be free from
errors or that they will meet your specific requirements. THE LICENSED MATERIALS ARE
PROVIDED “AS IS” TO YOU OR ANY SUBSEQUENT USER.
5. LIMITATIONS: TI makes no warranty or condition, either expressed or implied, including but not
limited to any implied warranties of merchantability and fitness for a particular purpose, regarding
the Licensed Materials.
IN NO EVENT SHALL TI OR ITS SUPPLIERS BE LIABLE FOR ANY INDIRECT,
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IF YOU AGREE TO BE BOUND BY THIS LICENSE, CLICK ON THE “ACCEPT” BUTTON; IF YOU
DO NOT AGREE TO BE BOUND BY THIS LICENSE, CLICK ON THE “DECLINE” BUTTON TO
EXIT THE INSTALLATION.

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 35

 Page Reference
This PDF document contains electronic bookmarks designed for easy on-
screen navigation. If you decide to print this document, please use the
page numbers below to find specific topics.

Important Information.............................................................................. 2
The Time-Value-of-Money (TVM) Solver................................................. 3
Finance Functions................................................................................. 13
Finance Examples ................................................................................ 21
Error Messages .................................................................................... 29
Installing the Finance App..................................................................... 31
Starting and Quitting the Application..................................................... 32
Deleting an Application ......................................................................... 33
Texas Instruments (TI) Support and Service Information...................... 34
End-User License Agreement ............................................................... 35

TI-89 / TI-92 Plus / Voyage™ 200 PLT Finance Application Page 36