Ti-84 Calculator

by
TI-84 Plus TVM Solver Simulator
FV (Future Value)PV (Present Value)PMT (Payment)
Calculated Result:
FV = —
function toggleInputs(){var type=document.getElementById('calc_type').value;document.getElementById('row_pv').style.display=(type==='PV')?'none':'table-row';document.getElementById('row_pmt').style.display=(type==='PMT')?'none':'table-row';document.getElementById('row_fv').style.display=(type==='FV')?'none':'table-row';}function calculateResult(){var type=document.getElementById('calc_type').value;var n=parseFloat(document.getElementById('n_val').value);var i_ann=parseFloat(document.getElementById('i_val').value);var py=parseFloat(document.getElementById('py_val').value);var i= (i_ann/100)/py;var pv=parseFloat(document.getElementById('pv_val').value)||0;var pmt=parseFloat(document.getElementById('pmt_val').value)||0;var fv=parseFloat(document.getElementById('fv_val').value)||0;var steps=document.getElementById('steps').checked;var res=0;var detail="";if(isNaN(n)||isNaN(i_ann)||isNaN(py)){alert('Please fill in N, I%, and P/Y');return;}if(type==='FV'){res = -(pv * Math.pow(1+i, n) + pmt * (Math.pow(1+i, n)-1)/i);detail="Solving for Future Value based on present cash flows.";}else if(type==='PV'){res = -(fv + pmt * (Math.pow(1+i, n)-1)/i) / Math.pow(1+i, n);detail="Solving for Present Value needed for a future goal.";}else if(type==='PMT'){res = -(pv * Math.pow(1+i, n) + fv) / ((Math.pow(1+i, n)-1)/i);detail="Solving for the periodic payment required.";}document.getElementById('resultLabel').innerHTML=type;document.getElementById('resultValue').innerHTML=res.toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2});if(steps){document.getElementById('stepDetails').innerHTML=detail + "
Note: Negative values represent cash outflows (money leaving your pocket).";}else{document.getElementById('stepDetails').innerHTML="";}}toggleInputs();

TI-84 Calculator Use

The TI-84 calculator is the gold standard for high school and college students, particularly when it comes to finance and statistics. This simulator replicates the "TVM Solver" (Time Value of Money) found in the [APPS] menu of a physical TI-84 Plus or TI-84 Plus CE. It allows you to solve for five essential financial variables by entering the known values and leaving the target variable empty.

Whether you are calculating the monthly payment for a car loan, the growth of a savings account, or the present value of an investment, the TI-84 logic requires a specific understanding of cash flow signs.

N (Total Periods)
The total number of compounding periods or payments (e.g., for a 30-year mortgage with monthly payments, N = 30 * 12 = 360).
I% (Annual Interest Rate)
The nominal annual interest rate as a percentage (enter 6 for 6%).
PV (Present Value)
The current value of an investment or the loan amount received. In TI-84 logic, if you receive a loan, it is positive (cash in); if you invest money, it is negative (cash out).
PMT (Payment)
The amount of each periodic payment. Payments made are negative numbers.
FV (Future Value)
The value of the investment at the end of the term, or the balloon payment remaining at the end of a loan.

How the TI-84 Logic Works

The TI-84 calculator uses the general TVM equation to solve for missing variables. The calculator assumes that the sum of all cash flows, adjusted for the time value of money, must equal zero. The fundamental formula is:

PV(1+i)^N + PMT[((1+i)^N – 1)/i] + FV = 0

Where:

  • i = (I% / 100) / (P/Y). This is the periodic interest rate.
  • N = The total number of payments.
  • Cash Flow Signs: Money you receive is entered as a positive number. Money you pay out (like a bank deposit or a monthly loan payment) must be entered as a negative number.

Calculation Example: Car Loan

Example: You want to buy a car for $25,000. The bank offers a 5-year loan at a 4.5% annual interest rate. What is your monthly payment?

Step-by-step solution using TI-84 settings:

  1. N: 5 years * 12 months = 60
  2. I%: 4.5
  3. PV: 25,000 (Positive because you receive the car/money now)
  4. FV: 0 (The loan will be paid off)
  5. P/Y: 12 (Monthly payments)
  6. Solve for PMT: Move the cursor to PMT and press [ALPHA][SOLVE].
  7. Result: PMT = -466.07 (Negative because it is money leaving your bank account each month).

Common Questions about the TI-84 Calculator

Why is my answer negative?

The TI-84 follows a "Cash Flow Sign Convention." Imagine your wallet: any money coming in is positive, and any money going out is negative. If you take a loan (PV is positive), the payments you make must be negative to bring the balance back to zero.

Is the TI-84 allowed on the SAT or ACT?

Yes, the TI-84 Plus, TI-84 Plus Silver Edition, and TI-84 Plus CE are all permitted on both the SAT and ACT. It is one of the most popular calculators for these exams because of its robust graphing and statistical capabilities.

What is the difference between P/Y and C/Y?

P/Y stands for "Payments per Year," while C/Y stands for "Compounding periods per Year." For most consumer loans and savings accounts, these are the same (usually 12 for monthly). However, in some advanced finance scenarios, interest might compound daily while you pay monthly.

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