Let’s walk step-by-step on how to solve for each financial variable. If you do not get the correct answers to these, go back and check your work by using the {RCL} (Recall) key, for instance, hit {RCL}{N} to find out what you have in your calculator for {N}, and so on. If the number is not correct, just simply re-input the number that is incorrect and go on from there. We will start with solving for {PMT}, as that is the easiest.

Important Note: It is very beneficial to use a piece of scratch paper when figuring out financial calculations. You will want to write at the top of the paper the 5 variables: N, I, PV, PMT and FV, as listed below. Then, write in each column the numbers that will be entered into each variable. Once that is done, go ahead and do the problem itself. Click here to read more about TMV key.

Now lets solve for PV.











The only number that changes here is I. So, change I to 8% and solve for PV, the answer you should get is $161,349.28.

Please note: The above example assumed that your calculator was pre-set to P/YR=12.