how do i do this via calculator (i want to do it w/o using a table) borrowed 3k will make 9 annual equal pmts plus one lump sum pmt of 1k at the end of 10 periods the int rate = 10% what is the required annual PMT? my attemptâ€¦ took the PV of 1k n=10 i=10 FV=1k PV = x = 385.54 = approx 386 revised FV = 3k - 386 = 2614 where do i go from here?

try pv 2000, fv 0, int 10, n 9, solve for pmt then tack on the 1 g as the 10th pmt

overlook something, please ignore

figured it out PMT = residual PV / PVA residual PV = 2614 n = 9 (originally 10, but we discounted the single lump sum pmt) i = 10 therefore, PMT = 453.896

Try PV=-3000 I/Y=10 N=10 FV=1000 CPT PMT PMT=425.49

cpk123 Wrote: ------------------------------------------------------- > Try PV=-3000 I/Y=10 N=10 FV=1000 CPT PMT > PMT=425.49 my answer is correct. matches the textbook answer. the lump sum is discounted. then its subtracted from the loan amount and we can calculate a pmt from there.