Amortization Example: Calculating An Outstanding Loan Balance - Texas Instruments TI-83 Manual Book

Amortization Example: Calculating an Outstanding Loan Balance

You want to buy a home with a 30-year mortgage at 8 percent APR.
Monthly payments are 800. Calculate the outstanding loan balance after
each payment and display the results in a graph and in the table.
1. Press z. Press † ~ ~ ~ Í to set the
fixed-decimal mode setting to
Í to select
2. Press Œ Í Í to display the
.
TVM Solver
3. Press Í
Press †
8
Ì to enter the payment amount. Press †
800
to enter the future value of the mortgage. Press
†
to enter the payments per year, which
12
also sets the compounding periods per year to
. Press † † Í to select
12
TI-83 Plus Applications
graphing mode.
Par
to enter number of payments.
360
to enter the interest rate. Press † †
. Press † † ~
2
.
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