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198 14: Additional Examples
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9
2. Store 0 , 6 , and 200 .
3. Add 200 to the annual interest rate, make the number negative, and
store it in .
4. Press to calculate the Canadian mortgage factor.
5. Continue the problem by supplying the other mortgage values and
solving for the unknown item.
Do not change I%YR from step 4.
Example: Canadian Mortgage. What is the monthly payment required
to fully amortize a 30-year, $30,000 Canadian mortgage if the interest
rate is 12%?
Keys: Display: Description:
@c
e
Displays TVM menu; sets
12 payments per year
with End mode.
0
6
200
+
12
=
&
Calculates I%YR for
Canadian mortgage
factor.
30
@
Stores other values.
30000
0
Monthly payment.
A Solver Equation for Canadian Mortgages:
v