3.Finally enter current values for N (less number of payment periods already passed, or 5 ⋅ 12－42) and PV (proposed purchase price, $79,000); then calculate I%YR for the annual yield.

Step 1: Calculate PMT. Make sure FV = 0.

Keys:

Display:

Description:

 

 

 

 

Selects menu; sets 12

 

 

 

 

payments per year and

 

@c

End mode.

e   

20 @



Figures and stores total

 

 

 

 

 

 

number of payments for a

 

 

 

 

 

 

full 20-year loan with

 

 

 

 

 

 

monthly payments.

 

 

 

Stores interest rate and

9

 

100000 &

amount of original loan.

 

 

(Money paid out is

 



 

 

 

 

 

 

negative.)

 

 

Sets FV to zero.

0

 



 

 

Calculates monthly

 



 

 

 

 

 

 

payment received.

Step 2: Enter the new value for N given a balloon in 5 years, then find FV, the amount of the balloon.

Keys:

Display:

Description:

 

 

 

5 @



Stores number of

 

 

 

 

payments for 5 years.

 

 

Calculates balloon due in

 



 

 

 

 

5 years.

192 14: Additional Examples

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