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PV:75,250
PMT:?
l"/"YR:13.8
N
-
4x12
P/YR:12i
End
mode
The problem is done
in
two
steps:
l.
Calculate the monthly payment
2.
Calculate the balloon payment
Keys:
Display:
lrmn]
ll
MmFl
ffi
2
[lrrtpUn
lm
ffiffi
lm
lml
le pryR
ENB
t'looE
Step
l.
Calculate PMT
for
the
mortgage:
258
12
ffi
H=3Bg.Bg
13.8
ffi
rzyR=l=,
BB
75250
ffi
PU=75,esg,gg
to
repay the loan
in
25
years.
after 4
years.
Description:
Enter the TVM
application.
Sets
display to two
deci-
mal
places.
Optional;
clears
TVM
variables.
If
necessary:
sets
12 pay-
ment periods per
year;
End
mode.
Stores
total number of
payments.
Stores
annual interest
rate.
Stores
loan
amount.
12o
6: Time
Value
of toney
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