Computing And Graphing Mortgage Payments - Texas Instruments TI-83 Manual Book

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
the other mode settings to the defaults.
2. Press Œ Í Í to display the
Note: Enter a positive number ( 800 ) to show
values will be displayed as positive numbers on the graph. Enter 0 for
TI-83 Plus Activities
decimal places. Set
2
. Enter these values.
TVM Solver
as a cash inflow. Payment
PMT
,
FV
592