Example: Computing Basic Loan Interest - Texas Instruments Calculator User Manual

Press & \.
6.
— or —
is displayed, press # to display
If
INT
7. To generate the amortization schedule, repeat steps 2 through 5 for
each range of payments.
Generating an Amortization Schedule Automatically
After entering the initial values for
amortization schedule automatically.
Press & \.
1.
— or —
is displayed, press # to display the current
If
INT
Press %. Both
2.
next range of payments.
The calculator computes the next range of payments using the same
number of periods used with the previous range of payments. For
example, if the previous range was 1 through 12 (12 payments),
pressing % updates the range to 13 through 24 (12 payments).
3. Press # to display
If you press % with
•
displayed automatically. (You can still enter a new value for
If you did not press % with
•
with
P2
range of payments.
Press # to display each of the automatically computed values for
4.
, , and
BAL PRN
5. Repeat steps 1 through 4 until the schedule is complete.

Example: Computing Basic Loan Interest

If you make a monthly payment of $425.84 on a 30-year mortgage for
$75,000, what is the interest rate on your mortgage?
To
Set payments per year to 12.
Return to standard-calculator
mode.
Enter number of payments
using the payment multiplier.
26
and update automatically to represent the
P1 P2
.
P2
P1
displayed to enter values for both
in the next range of payments.
INT
Press
& [
& U
30
Time-Value-of-Money and Amortization Worksheets
again.
P1
and , you can compute an
P1 P2
displayed, a new value for
displayed, you can press %
P1
!
12
& Z ,
value.
P1
will be
P2
and in the next
P1 P2
Display
P/Y=
12.00
N= 360.00
.)
P2

0.00
