Understanding Loan Calculations with the TI4 TVM Solver

This video tutorial demonstrates how to use the TI-84 TVM Solver to calculate loan-related values. It covers determining the loan amount you can afford, the total money paid over the loan term, and the interest paid. The tutorial guides you through setting up the TVM Solver, inputting necessary values, and solving for the present value. It also explains how to calculate the total payment and interest over a 30-year period with an 8% interest rate.

What is the monthly mortgage payment you can afford in this example?

• $2,000

• $1,000

• $1,200

• $1,500

How many years is the loan term in this example?

• 20 years

• 15 years

• 30 years

• 25 years

What is the interest rate of the loan in this example?

• 5%

• 8%

• 6%

• 7%

How do you access the TVM Solver on the calculator?

• Press 2nd, then Mode

• Press Alpha, then Enter

• Press Mode, then Enter

• Press Apps, then Enter twice

What is the total number of compounds over the 30-year loan period?

• 300

• 240

• 360

• 180

What is the present value of the loan you can afford?

• $200,000

• $175,000

• $163,500

• $150,000

What is the total amount of money paid over the 30-year loan period?

• $432,000

• $500,000

• $300,000

• $360,000

How much interest is paid over the life of the loan?

• $268,500

• $280,000

• $285,481

• $300,000

What is the future value of the loan after 30 years?

• $0

• $100,000

• $200,000

• $300,000

What is the significance of the 'end' setting in the TVM Solver?

• It highlights the end of the calculation

• It marks the end of the year

• It specifies the end of the month

• It indicates the end of the loan term