Chapter 17: Activities
510
Computing and Graphing Mortgage Payments
Computing and Graphing Mortgage Payments
Computing and Graphing Mortgage Payments
Computing and Graphing Mortgage Payments
Problem
Problem
Problem
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
Procedure
Procedure
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
, since the future
value of a loan is 0 once it is paid in full. Enter
PMT: END
, since payment is due at the
end of a period.
3.
Move the cursor onto the
PV=
prompt, and then press
ƒ \
. The present
value, or mortgage amount, of the house is displayed at the
PV=
prompt.
Содержание -84 Plus
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Страница 213: ...Chapter 8 Draw Instructions 210...
Страница 248: ...Chapter 10 Matrices 245 row value matrix rowA rowB...
Страница 332: ...Chapter 12 Statistics 329...
Страница 354: ...Chapter 13 Inferential Statistics and Distributions 351 Ha p1 p2 p1 p2 Input Calculated results Drawn results...
Страница 413: ...Chapter 14 Applications 410...
Страница 427: ...Chapter 15 CATALOG Strings Hyperbolic Functions 424 sinh 1 value cosh 1 value sinh 1 value...
Страница 496: ...Chapter 17 Activities 493 If C A and D B Stop Goto Z Quit if guesses are correct...
Страница 516: ...Chapter 17 Activities 513 At which monthly payment will the principal allocation surpass the interest allocation...
Страница 672: ...Appendix C Service and Warranty Information 669...