Sharp EL-738 operation manual 61656, 8895148

Page 35

8.Press ito calculate the next period of the amortization schedule.

9.Repeat steps 5 to 7 above.

•If you press @during “AMRT P1” and “AMRT P2” entry, the values for the next period of payment will be automatically calculated and displayed.

•To end amortization calculations, press s. Pressing s during entry will clear the value entered.

1 Calculating mortgage payments and generat- ing an amortization schedule

1.Calculate the monthly payment of a 20-year loan with a loan amount of $90,000 and a 5.45% APR.

Procedure	Key operation	Display

Set all the variables to	.b
default values.		000
		000

Make sure ordinary annuity is set (BGN is not displayed).

Set TVM solver vari-	.w12 Q
ables and calculate	s20 .<
payment.	N90000 v0		PMT=
	T	5.45 f@	PMT=
	u		-61656

Answer: The monthly payment is $616.56.

Now generate an amortization schedule for the ﬁrst 5 years of the loan. If the ﬁrst payment is in August, the ﬁrst year has 5 payment periods and the following years have 12 payment periods each.

2.Calculate the amortization schedule for the ﬁrst year.

Procedure	Key operation			Display

Change to amortization	*1 Q
calculation and enter 1				AMRT P1=
(August) for the starting				AMRT P1=
payment.				100
Enter 5 (December) for	i	5	Q	AMRT P2=
Enter 5 (December) for	i		Q	AMRT P2=
the ending payment.				500
				500

Display the remaining	i			BALANCE=
balance.				8895148
				8895148

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Image 35

Contents EL-738 Page Contents Operational Notes IntroductionKeys Using the .andKey Notations in This Manual Preparing to Use the Calculator Resetting the Calculator In Case of DifﬁcultyResetting the calculator Key operation keys Calculator and Display LayoutCalculator layout 2ndF Display layoutSelecting the display notation and number of decimal places SET UP MenuSelecting the angular unit see 33333330003 000Selecting the date format see Selecting a modeOperations available in each mode Operating ModesBasic Calculations 14000343 9000Delete key ⋅ ⋅Playback function Editing and Correcting an EntryMemory clear key Cursor keys192 ErrorsMemory use in each mode for memory calculations 500TVM variables Temporary memories A-H, X-ZIndependent memory M Last answer memory ANSExample Key operation Statistical variablesMemory calculations Financial calculations General InformationVariables shared among calculations Variables used in ﬁnancial calculationsListed ﬁnancial variables Basic variable operationsTVM variables N, I/Y, PV, PMT, FV Category Display symbols Descriptions ENT and Comp symbolsCompound interest Cash ﬂow diagramsVariables used in the TVM solver Setting the payment period payment dueVariable Corresponding Description Default Variable key TVM Time Value of Money SolverCalculating basic loan interest Basic examples for the TVM solver44000 120024000 5600000Calculating basic loan payments 4008000 125586Calculating future value 360020000 FV=376889 1002000 1000000Ordinary annuity Specifying payments dueOrdinary annuity END Annuity due BGN1624570 180030000000 360299500 240029950 14500Calculating down payment and amount to borrow 3400150000 62799514655892 3000090000 550Variables used in amortization Variable Description Default valueAmortization Calculations 8895148 616561700 104852203428 6001724476 3844574800 48275524Repeated cash ﬂows Discounted Cash Flow AnalysisEntering cash ﬂow data Single cash ﬂowsConﬁrming and editing data 000*2200 300Inserting data 2500000Editing data Deleting dataNPV and IRR 3000000600000 Variables used in discounted cash ﬂow analysisTo obtain IRR Procedure Key operation Display Bring up the initial disPlay in Normal mode To obtain NPVCalculating the present value of variable cash ﬂows 2314662752 Variables used in bond calculations Setting the day-count methodBond Calculations To obtain yield to maturity Yield I/Y To obtain bond price Price PV720 65010000 15-2023Entering dates 9250728 Key operation Description Setting the depreciation methodDepreciation Calculations Variables used in depreciation calculationsPage Calculating straight-line depreciation 30005000000 To change EFF to APR 1956Conversion between APR and EFF To change APR to EFFVariables used in day and date calculations Day and Date CalculationsAnswer 228 days 10-200922800 Calculating number of daysCalculate Procedure Key operation Display Move to the last datePercent Change/Compound Interest Cal- culations 800000 750000011600000 5467Variables used in cost/sell/margin/markup calcula- tions 980000113 Cost/Sell/Margin/Markup CalculationsDetermining selling price 455609500 88842Calculating the breakeven point Breakeven CalculationsVariables used in breakeven calculations 33937 15000007580 12000Chain Calculations Constant Calculations4500 087071 5000Random coin Random FunctionsRandom numbers Random diceRandom integer 532Modify Function Key operation Sub-mode Display Entering statistical dataFor a single-variable data set For a two-variable data set x value y value JEntering statistical data 1000 2000 Quadratic regression calculation Statistical Calculations and VariablesSingle-variable statistical calculations Linear regression calculationsVariables Content Single-variable statistical calculation 5300017857 Linear regression calculation Quadratic regression calculation Discounted cash ﬂow analysis Financial Calculation FormulasTVM solver Amortization calculationsBond calculations Day and date calculations Depreciation calculationsConversion between APR and EFF Breakeven calculations Statistical Calcula- tion FormulasCost/Sell/Margin/Markup calculations Calculation error Error Errors and Calculation RangesError codes and error types Syntax error ErrorInput value error Error Equation too long ErrorNo solution Error Display error ErrorFunction Calculation range Calculation ranges of functionsInteger When to replace the battery Battery ReplacementPriority Levels in Calculations Replacement procedureAutomatic power-off function Key operation and calculation priority SpeciﬁcationsFor more information about business/ ﬁnancial calculators Index Formulas, 72-75 FV, 18, 22, 72 GRAD, 8, 9, 61 Memo