TI-83 Plus
Activities
592
Computing and Graphing Mortgage
Payments
Problem
You are a loan officer at a mortgage company, and you recently closed
on a 30-year home mortgage at 8 percent interest with monthly
payments of 800. The new home owners want to know how much will be
applied to the interest and how much will be applied to the principal
when they make the 240th payment 20 years from now.
Procedure
1. Press
z
and set the fixed-decimal mode to
2
decimal places. Set
the other mode settings to the defaults.
2. Press
Œ
Í
Í
to display the
TVM Solver
. Enter these values.
Note: Enter a positive number (
800
) to show
PMT
as a cash inflow. Payment
values will be displayed as positive numbers on the graph. Enter
0
for
FV
,
Summary of Contents for 83PL/CLM/1L1/V - 83 Plus Calc
Page 407: ...TI 83 Plus Inferential Statistics and Distributions 404 Input Calculated results Drawn results...
Page 412: ...TI 83 Plus Inferential Statistics and Distributions 409 Data Stats Input Calculated results...
Page 454: ...TI 83 Plus Applications 451 tvm_FV tvm_FV computes the future value tvm_FV PV PMT P Y C Y...