Find Principal, Interest, and Balance with TVM Solver

You can use the TVM Solver on the TI-83 Plus graphing calculator to find the principal and interest paid on a loan and then to determine the balance on that loan. Use the

and

commands to compute the principal and interest paid on a loan during a specified time period. To use these commands, follow these steps:

1. Assign values to all variables in the TVM Solver.

2. Press [2nd][MODE] to enter the Home screen.

3. Press [APPS][1] to access the Finance application menu. (On the TI-83, press [2nd][x^–1].)

4. Repeatedly press

   

   to select

   

   or

   

   and press [ENTER].

5. Enter the number of the first payment in the specified time period, press [.], enter the number of the last payment in the time period, press [ ) ], and then press [ENTER] to display the result.

   

Use the bal command to compute the balance of a loan after a specified time period. To use this command, follow these steps:

1. Follow Steps 1 through 3 in the previous section.

2. Repeatedly press

   

   to select the bal command and press [ENTER].

3. Enter the number of payments in the specified time period.

   You can enter the number of payments in the bal command as an arithmetic expression.

4. Press [ ) ][ENTER] to display the result.