75,250
13.8
4 X 12 
12; End mode
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1 | 2 |
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Balloon.
The problem is done in two steps:
1.Calculate the monthly payment without the balloon (FV=0).
2.Calculate the balloon payment after 4 years.
Keys: | Display: | Description: | |||||||||
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| Display TVM menu. | |
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@c | | Clears history stack and | |||||||||
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| TVM variables. |
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e | | periods per year; End | |||||||||
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Step 1. Calculate PMT for the mortgage. |
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25 @ | |
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| number of monthly |
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| payments in 25 years. |
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13.8 | |
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75250 | | | Stores amount of the loan. | ||||||||
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| payment. |
70 5: Time Value of Money
File name :