Calculating A Balloon Payment To Retire A Mortgage - Texas Instruments BA Real Estate User Manual

Calculating a Balloon Payment to Retire a Mortgage

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 payment amount
and round the result.
6. Enter the number of payments made.
7. Compute unpaid balance.
8. Add payment computed in
line 5.
9. Calculate the balloon payment.
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Mortgages and Amortization 27