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Chapter 11: Financial Features
The following CALC functions, 08 Bal, 09 ΣPrn and
10 ΣInt require the values of I%, PV and PMT
variables. Enter the values beforehand in the TVM-
SOLVER function.
Example using the 08 and 10
calculations
You plan to purchase a house for the price of $300,000. The down
payment is $100,000. Calculate the monthly payments for a 30-
year loan at an annual interest rate of 5% for the remaining
$200,000.
08 Bal ( Bal (
number of payments [, decimal place to round]
)
Calculates loan balance.
Calculate the loan balance after
15 years (180 months).
09 ΣPrn ( ΣPrn (
initial number of payments, end number of payments [,
decimal place to round]
).
Calculates the principal amount of the total payments.
Compare the principal amount
of the total payments after 5 (1
to 60 months) and 10 years (61
to 120 months).
10 ΣInt ( ΣInt (
Initial number of payments, end number of payments [,
decimal place to round]
)
Calculates the sum of the interest on the payments.
Compare the sum of the
interest on the payment sum
after 5 years and 10 years.