Next successive set of payments authorized

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 @cand 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

U

;6@28#$&.("

Stores annual interest

 

 

 

 

 

 

 

 

 

rate.

 

 

65000

V

5O8'.K(((&(("

Stores loan amount.

693.72 &

 

 

 

"

Stores monthly payment.

W50:8/',%&-$"

.

 

 

"

If needed: sets 12

@c

#$ 5?@2 H<A 0EAH"

payment periods per

 

 

 

 

 

year; End mode.

 

 

 

3H@ P50:FQ 52HFF"

Displays AMRT menu.

\

 

 

 

 

 

 

RP5S"

 

 

 

 

12

^

 

P58#$ 50:FI #/#$"

Calculates amortization

 

 

 

 

 

schedule for first 12

80 5: Time Value of Money

File name : 17BII-Plus-Manual-E-PRINT-030709

Print data : 2003/7/11