Activities

ANZ Bank - Savings Over Time Calculator

Invent some savings problems and solve with the ANZ Bank calculator.

Check the results with the Time/Value/Money Solver on the TI-83.

The TVM Solver works on the principle that money paid out is negative and money received is positive.

The variables are as follows.
 

N
 number of payments
  • not the same as n in the compound interest formula
  • equals the product of the number of years and the value of P/Y
  • same as number of years if P/Y is 1
    		•
    I%
    		 % nominal rate of interest pa
  • not the same as i in the compound interest formula
    		•
    PV
    		 present value
  • amount at the beginning
    		•
    PMT
    		 amount of payment
  • 0 if no payments
    		•
    FV
    		 future value
  • amount at the end
    		•
    P/Y
    		 number of payments per year
  • 1 if no payments
    		•
    C/Y
    		 number of times per year that interest is payable
    PMT:END BEGIN
  • END if payments are paid at the end of the payment period
  • BEGIN if payments are paid at the beginning of the payment period
    		•