Texas Instruments TI-83 Manual Book page 284

Amortization
Example:
Calculating an
Outstanding
Loan Balance
14-10 Financial Functions
You want to buy a home with a 30-year mortgage at 8
percent APR. Monthly payments are 800. Calculate the
outstanding loan balance after each payment and display
the results in a graph and in the table.
1. Press z. Press † ~ ~ ~ Í to set the
fixed-decimal mode setting to
select graphing mode.
Par
2. Press y [
FINANCE
to enter number of payments. Press †
3. Press
360
enter the interest rate. Press † † Ì
payment amount. Press †
the mortgage. Press †
year, which also sets the compounding periods per year
. Press † † Í to select
to
12
4. Press } } } } } to place the cursor on the
Press ƒ [
SOLVE
5. Press o to display the parametric
stat plots. Press „ to define
„¤ to define
[ ]
9
FINANCE
. Press † † ~ Í to
2
] Í to display the
to enter the future value of
0
to enter the payments per
12
PMT:END
] to solve for the present value.
Y=
X
1T
as
Y
1T
.
TVM Solver
to
8
to enter the
800
.
prompt.
PV
editor. Turn off all
. Press † y
as
T
.
bal(T)