34
8.
Press
i
to calculate the next period of the amortization
schedule.
9.
Repeat steps 5 to 7 above.
• If you press
@
during “AMRT P1” and “AMRT P2” entry,
the values for the next period of payment will be automatically
calculated and displayed.
• To end amortization calculations, press
s
. Pressing
s
during entry will clear the value entered.
Calculating mortgage payments and generat-
ing an amortization schedule
1.
Calculate the monthly payment of a 20-year loan with a loan
amount of $90,000 and a 5.45% APR.
Procedure
Key operation
Display
Set all the variables to
default values.
.
b
000
Make sure ordinary annuity is set (
BGN
is not displayed).
Set TVM solver vari-
ables and calculate
payment.
.
w
12
Q
s
20
.
<
N
90000
0
t
5.45
f
@
u
PMT=
-61656
Answer:
The monthly payment is $616.56.
Now generate an amortization schedule for the fi rst 5 years of the
loan. If the fi rst payment is in August, the fi rst year has 5 payment
periods and the following years have 12 payment periods each.
2.
Calculate the amortization schedule for the fi rst year.
Procedure
Key operation
Display
Change to amortization
calculation and enter 1
(August) for the starting
payment.
*
1
Q
AMRT P1=
100
Enter 5 (December) for
the ending payment.
i
5
Q
AMRT P2=
500
Display the remaining
balance.
i
BALANCE=
8895148
1
