80
5: Time Value of Money
Next
set of
payments authorized
successive
b.
To calculate a subsequent schedule with a
different
number of
payments, key in that number and press
^
.
c.
To start over from payment #1 (using the same loan information),
press
@c
and proceed from step 7.
Example: Displaying an Amortization Schedule.
To purchase your
new home, you have taken out a 30-year, $65,000 mortgage at 12.5%
annual interest. Your monthly payment is $693.72. Calculate the
amount of the first year’s and second year’s payments that are applied
toward principal and interest.
Then calculate the loan balance after 42 payments (3½ years).
Keys: Display:
Description:
"
]
"
Displays TVM menu.
12.5
U
;6@28#$&.("
Stores annual interest
rate.
65000
V
5O8'.K(((&(("
Stores loan amount.
693.72
&
W
"
50:8/',%&-$"
Stores monthly payment.
.
@c
"
#$
5?@2
H<A
0EAH"
If needed: sets 12
payment periods per
year; End mode.
\
3H@
P50:FQ
52HFF"
RP5S"
Displays AMRT menu.
12
^
P58#$
50:FI
#/#$"
Calculates amortization
schedule for first 12
