Example: Computing Payment, Interest, And Loan Balance After A Specified Payment - Texas Instruments Calculator User Manual

To
Display 2nd year amortization data.
and press % to enter
Move to
P1
next range of payments.
Display .
P2
Display 3rd year amortization data.
Example: Computing Payment, Interest, and Loan
Balance After a Specified Payment
A group of sellers considers financing the sale price of a property for
$82,000 at 7% annual interest, amortized over a 30-year term with a
balloon payment due after five years. They want to know:
• Amount of the monthly payment
• Amount of interest they will receive
• Remaining balance at the end of the term (balloon payment)
Computing the Monthly Payment
To
Set all variables to defaults.
Set payments per year to 12.
Return to standard-calculator
mode.
Enter number of payments
using payment multiplier.
Enter interest rate.
Enter loan amount.
Compute payment.
Time-Value-of-Money and Amortization Worksheets
Press
#
#
#
# %
#
#
#
#
Press
& } !
& [ !
12
& U
& Z ,
30
-
7
.
82000
% /
Display
BAL=
117,421.60
PRN=
_
-1,507.03
INT=
-7,242.53
P1=
22.00
P2=
33.00
BAL=
115,819.62
PRN=
-1601.98
INT=
-7,147.58
Display
RST 0.00
P/Y=
12.00
0.00
N=
360.00
I/Y= 7.00
PV=
82,000.00
PMT=
-545.55
*
*
*


*
*
*





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