34
8.
Press
i
to calculate the ne
xt per
iod of the amor
tization
schedule
.
9.
Repeat steps 5 to 7 abo
v
e
.
•
If y
ou press
@
dur
ing
“AMR
T P1”
and
“AMR
T P2”
entr
y,
the v
alues f
or the ne
xt per
iod of pa
yment will be automatically
calculated and displa
y
ed.
•
T
o
end amor
tization calculations
, press
s
. Pressing
s
dur
ing entr
y will clear the v
alue entered.
Calculating mor
tga
g
e pa
yments and g
enerat-
ing an amor
tization sc
hedule
1.
Calculate the monthly pa
yment of a 20-y
ear loan with a loan
amount of $90,000 and a 5.45% APR.
Pr
ocedure
K
e
y
operation
Displa
y
Set all the v
a
riab
les to
def
ault v
alues
.
.
b
000
Mak
e sure ordinar
y ann
uity is set (
BGN
is not displa
y
ed).
Set
TVM solv
er v
a
ri-
ab
les and calculate
pa
yment.
.
w
12
Q
s
20
.
<
N
90000
v
0
T
5.45
f
@
u
PMT=
-61656
Ans
wer:
The monthly pa
yment is $616.56.
No
w gener
ate an amor
tization schedule f
or the fi
rst 5 y
ears of the
loan.
If the fi
rst pa
yment is in A
ugust, the fi
rst y
ear has 5 pa
yment
per
iods and the f
ollo
wing y
ears ha
v
e
12 pa
yment per
iods each.
2.
Calculate the amor
tization schedule f
or the fi
rst
y
ear
.
Pr
ocedure
K
e
y
operation
Displa
y
Change to amor
tization
calculation and enter 1
(A
ugust) f
or the star
ting
pa
yment.
*
1
Q
AM
R
T
P1=
100
Enter 5 (December) f
or
the ending pa
yment.
i
5
Q
AM
R
T
P2=
500
Displa
y the remaining
balance
.
i
BALANCE=
88
9
5148
1
3 Financial FunctionsCurrent.indd 34
06.7.10 8:38:27 PM