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80 5: Time Value of Money
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9
Next set of
payments authorized
successive
b. To calculate a subsequent schedule with a different number of
payments, key in that number and press .
c. To start over from payment #1 (using the same loan information),
press
@c
and proceed from step 7.
Example: Displaying an Amortization Schedule. To purchase your
new home, you have taken out a 30-year, $65,000 mortgage at 12.5%
annual interest. Your monthly payment is $693.72. Calculate the
amount of the first year’s and second year’s payments that are applied
toward principal and interest.
Then calculate the loan balance after 42 payments (3½ years).
Keys: Display: Description:
Displays TVM menu.
12.5 Stores annual interest
rate.
65000 Stores loan amount.
693.72
&
Stores monthly
payment.
@c
If needed: sets 12
payment periods per
year; End mode.
Displays AMRT menu.