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Have students log in on Navigator
Students set the number of digits to 2 (dealing with dollars and cents)
Press MODE and select 2 instead of Float and ENTER.
To use the application have students press APPS FINANCE and then 1 TVM to access the Time-Value-Money Solver.
Provide an example of how the Finance app works.
Note: The TVM Solver can find N, %, PV, PMT, or FV by entering the amounts for each variable and moving the cursor to the right of the unknown variable. Place the value 0 in that space if there is already another value there. Then press ALPHA ENTER [solve] to find the value of the unknown.
Check student input
Have students find a car within a lower price range and calculate the payment for a 3 year loan if the interest is at a given rate (for example 11%)Check screens using Navigator
Have students find the car they would most like to have in a high price range and calculate the payment at 11 percent.
Calculate the total interest paid over the life of the loan.
Discuss House loans and credit card payments
Extended Project
Project the total cost of owning a car over a 1 year period. Include insurance, maintenance, gas, etc.
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