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The following CALC functions, 08 Bal, 09 ΣPrn
and 10 ΣInt require the values of I%, PV and PMT
variables. Enter the values beforehand in the TVM-
SOLVER function.
Example using the 08 and 10
calculations
You plan to purchase a house for the price of $300,000. The
down payment is $100,000. Calculate the monthly payments for
a 30-year loan at an annual interest rate of 5% for the remaining
$200,000.
08 Bal (
Bal (number of payments [, decimal place to round])
Calculates loan balance.
Calculate the loan balance after
15 years (180 months).
09 ΣPrn (
ΣPrn (initial number of payments, end number of payments [,
decimal place to round]).
Calculates the principal amount of the total payments.
Compare the principal amount of
the total payments after 5 (1 to
60 months) and 10 years (61 to
120 months).
10 ΣInt (
ΣInt (Initial number of payments, end number of payments [,
decimal place to round])
Calculates the sum of the interest on the payments.
Compare the sum of the interest
on the payment sum after 5
years and 10 years.
Chapter 9: Financial Features
193
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