Education Technology

Paying off a Loan

Activity Overview

In this coding activity for the TI-84 Plus CE Python edition, students will write a program that asks for the principle, annual interest rate and monthly payment.  The output will display the approximate number of months it will take to pay off as well as the total amount paid.

Objectives

  • Use the input function and a variable to collect and store data from a user
  • Use lists to store data
  • Use a while loop to repeat interest and loan payments until the loan is paid off
  • Export lists to the native TI system 
  • Use linear, piecewise, step and recursive functions to model data

About the Lesson

In this lesson, students will create a program to calculate the time it takes to pay off a loan.  The program will use lists to track the months, amount paid and balance.  Students will import theses lists to the graphs page.  Finally, they will fit linear, piecewise, step and recursive function to model the data.

Note: This lesson requires the use of TI-84 Plus CE Python technology with OS 5.6 and above.