Education Technology

Solution 34531: Calculating Interest Rate on the TI-83 Plus and TI-84 Plus Family of Graphing Calculators.

How is interest rate calculated on the TI-83 Plus and TI-84 Plus family of graphing calculators?

Example: What is the interest rate for a mortgage of $75,000 if making a $576.69 payment each month for 360 months?

1) Access the TVM solver by pressing [Apps] [1:Finance] [1:TVM Solver...].

Please Note: If using a TI-83 instead press [2nd] [x^-1] [1:TVM Solver...].

2) Press 360 [Enter] 0 [Enter] 75000 [Enter] [ (-) ] 576 [.] 69 [Enter] 0 [Enter] 12 [Enter] 12 [Enter] [Enter]

3) Press [↑] 6 times to move the cursor beside I% and then press [ALPHA] [Enter] to solve.

Please see the TI-83 Plus and TI-84 Plus Family guidebooks for additional information.

Last updated: 7/16/2024