Sharp EL-738XT Operation Manual page 36

8. Press i to calculate the next period of the amortization
schedule.
9. Repeat steps 5 to 7 above.
• If you press @ during "AMRT P1" and "AMRT P2" entry,
the values for the next period of payment will be automatically
calculated and displayed.
• To end amortization calculations, press s . Pressing s
during entry will clear the value entered.
1
1. Calculate the monthly payment of a 20-year loan with a loan
amount of $90,000 and a 5.45% APR.
Procedure
Set all the variables to
default values.
Make sure ordinary annuity is set (BGN is not displayed).
Set TVM solver vari-
ables and calculate
payment.
Answer: The monthly payment is $616.56.
Now generate an amortization schedule for the fi rst 5 years of the
loan. If the fi rst payment is in August, the fi rst year has 5 payment
periods and the following years have 12 payment periods each.
2. Calculate the amortization schedule for the fi rst year.
Procedure
Change to amortization
calculation and enter 1
(August) for the starting
payment.
Enter 5 (December) for
the ending payment.
Display the remaining
balance.
Calculating mortgage payments and generat-
ing an amortization schedule
. b
. w 12 Q
s 20 . <
N 90000
t 5.45 f @
u
* 1 Q
i 5 Q
i
Key operation
Key operation
34
Display
0
PMT=
-61656
Display
AMRT P1=
AMRT P2=
BALANCE=
8895148
000
100
500