48 Mortgages and Amortization
BEAR-CH1.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:16 PM Printed: 09/28/99 1:16 PM
Page 48 of 36
The second tax year (January through December) includes
payments 9 through 20 (12 payments).
Steps
Keystrokes
Display
Accept updated P1,
and advance to P2.
j
j
P1 =
9.00
P2 =
16.00
Enter new P2.*
20
P2
20.00
Display balance,
principal, and
interest for the
second year.
j
j
j
P2 =
20.00
BAL= 103,798.03
PRN=
-
742.90
INT=
-
9,508.82
*The calculator updates P1 to 9.00 and P2 to 16.00,
assuming that the next range is also 8 months. Changing
P2 to 20 establishes a 12-month range so the calculator can
correctly update both P1 and P2 for successive years.
The third tax year (January through December) includes
payments 21 through 32 (12 payments).
Steps
Keystrokes
Display
Accept updated P1,
and advance to P2.
j
j
P1 =
21.00
P2 =
32.00
Accept updated P2,
and display balance,
principal, and
interest for the third
year.
j
j
j
BAL= 102,984.42
PRN=
-
813.61
INT=
-
9,438.11
Note:
The worksheet on the next page omits step 1,
clearing the TVM values, due to page size restrictions.
Finding the Principal and Interest Paid
(Continued)
Solution:
Second Tax
Year
Solution: Third
Tax Year
