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70 5: Time Value of Money
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9
12 4748
Balloon.
4 12
X
13.8
12; End mode
75,250
The problem is done in two steps:
1. Calculate the monthly payment without the balloon (FV=0).
2. Calculate the balloon payment after 4 years.
Keys: Display: Description:
Display TVM menu.
@c
Clears history stack and
TVM variables.
@c
e
If needed: sets 12 payment
periods per year; End
mode.
Step 1. Calculate PMT for the mortgage.
25
@
Figures and stores the
number of monthly
payments in 25 years.
13.8 Stores annual interest rate.
75250 Stores amount of the loan.
Calculates monthly
payment.