Calculated-industries 3420 User Guide Manuale Utente Scaricare il pdf (Pagina 44)

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— 43

Finding the Yield on a Discounted Note

An individual wants to sell you a note under the following terms: 60

months remaining in the term, a face amount when due of $7,500,

10% interest-only payments of $62.50 (incoming). He says he will

sell this note to you for $6,500 if you buy today. If you buy it, what

will be the yield on your investment?

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Future Value of

note when due 7 5 0 0 s l 7,500.00

Enter purchase Price 6 5 0 0 l 6,500.00

Enter Remaining Term 5 T 5.00

Enter Payment Amount 6 2 • 5 0 p 62.50

Find your Yield ˆ “run” 14.09

— DO NOT CLEAR CALCULATOR —

What should you pay for this trust deed if you want an 18% yield on

your investment?

STEPS KEYSTROKES DISPLAY

Enter your desired Yield 1 8 ˆ 18.00

Find purchase Price l “run” 5,663.44

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Calculated-industries 3420 User Guide Manuale Utente Pagina 44