Paying Off A Loan Early By Making Larger Payments - Texas Instruments BA Real Estate User Manual

Paying Off a Loan Early by Making Larger Payments

1. Clear TVM values (if not already cleared).
2. Enter term of loan (in years).
3. Enter interest rate.
4. Enter loan amount.
5. Compute monthly payment.
6. Add extra payment amount (as a negative
amount).
7. Calculate and enter new, larger payment.
8. Compute new term.
Mortgages and Amortization 25
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