384457, 4800, 48275524, 1724476, 16729460 | Sharp EL-738 specification

2 Calculating payments, interest, and loan bal- ance after a speciﬁed payment

You have taken out a 30-year loan for $500,000, with an annual interest rate of 8.5%. If, after the 48th period, you want a balloon payment due, what amount of monthly payment must you make with monthly compounding and how much will the balloon pay- ment be?

Procedure	Key operation	Display

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

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

Set TVM solver vari-	.w12 Q
ables and calculate	s30 .<
payment.	N500000 v0	PMT=
	T8.5 f@	PMT=
	u	-384457

Answer: The monthly payment is $3,844.57.

Now generate an amortization schedule from the ﬁrst to the 48th payments.

Procedure	Key operation			Display

Change to amortization	*1 Q			AMRT P1=
calculation and enter 1				AMRT P1=
calculation and enter 1				100
for the starting payment.				100

Enter 48 (December)	i	48	Q	AMRT P2=
Enter 48 (December)	i		Q	AMRT P2=
for the ending payment.				4800
				4800

Display the balance af-	i			BALANCE=
ter 48 months. (balloon				BALANCE=
ter 48 months. (balloon				48275524
payment)				48275524

Display the principal	i			ÍPRINCIPAL=
paid over 48 months.				-1724476
				-1724476
Display the interest	i			ÍINTEREST=
paid over 48 months.				-16729460
				-16729460

Answer: The balloon payment after the 48th period would be $482,755.24.

36

Image 37

Sharp EL-738 operation manual 384457, 4800, 48275524, 1724476, 16729460

Contents

EL-738 Page Contents Operational Notes Introduction Key Notations in This Manual Using the .andKeys Resetting the calculator Resetting the Calculator In Case of DifﬁcultyPreparing to Use the Calculator Calculator layout Calculator and Display LayoutKey operation keys 2ndF Display layout Selecting the display notation and number of decimal places SET UP Menu 0003 3333333000 Selecting the angular unit see Operations available in each mode Selecting a modeOperating Modes Selecting the date format see 343 140009000 Basic Calculations Delete key ⋅ ⋅ Memory clear key Editing and Correcting an EntryCursor keys Playback function Memory use in each mode for memory calculations Errors500 192 Independent memory M Temporary memories A-H, X-ZLast answer memory ANS TVM variables Memory calculations Statistical variablesExample Key operation Financial calculations General Information Variables shared among calculations Variables used in ﬁnancial calculations TVM variables N, I/Y, PV, PMT, FV Basic variable operationsListed ﬁnancial variables Category Display symbols Descriptions ENT and Comp symbols Compound interest Cash ﬂow diagrams Variable Corresponding Description Default Variable key Setting the payment period payment dueTVM Time Value of Money Solver Variables used in the TVM solver Calculating basic loan interest Basic examples for the TVM solver 24000 12005600000 44000 8000 400125586 Calculating basic loan payments 20000 3600FV= Calculating future value 2000 1001000000 376889 Ordinary annuity END Specifying payments dueAnnuity due BGN Ordinary annuity 30000000 1800360 1624570 29950 240014500 299500 150000 3400627995 Calculating down payment and amount to borrow 90000 30000550 14655892 Amortization Calculations Variable Description Default valueVariables used in amortization 8895148 61656 203428 104852600 1700 4800 38445748275524 1724476 Entering cash ﬂow data Discounted Cash Flow AnalysisSingle cash ﬂows Repeated cash ﬂows 200 000*2300 Conﬁrming and editing data Editing data 2500000Deleting data Inserting data 600000 3000000Variables used in discounted cash ﬂow analysis NPV and IRR Play in Normal mode Procedure Key operation Display Bring up the initial disTo obtain NPV To obtain IRR Calculating the present value of variable cash ﬂows 2314 662752 Bond Calculations Setting the day-count methodVariables used in bond calculations To obtain yield to maturity Yield I/Y To obtain bond price Price PV 10000 65015-2023 720 728 9250Entering dates Depreciation Calculations Setting the depreciation methodVariables used in depreciation calculations Key operation DescriptionPage 5000000 3000Calculating straight-line depreciation Conversion between APR and EFF 1956To change APR to EFF To change EFF to APR Variables used in day and date calculations Day and Date Calculations 22800 10-2009Calculating number of days Answer 228 days Percent Change/Compound Interest Cal- culations Procedure Key operation Display Move to the last dateCalculate 11600000 75000005467 800000 113 980000Cost/Sell/Margin/Markup Calculations Variables used in cost/sell/margin/markup calcula- tions 9500 4556088842 Determining selling price Variables used in breakeven calculations Breakeven CalculationsCalculating the breakeven point 7580 150000012000 33937 Chain Calculations Constant Calculations 071 0875000 4500 Random numbers Random FunctionsRandom dice Random coin Modify Function 532Random integer For a single-variable data set Entering statistical dataFor a two-variable data set x value y value J Key operation Sub-mode Display Entering statistical data 1000 2000 Single-variable statistical calculations Statistical Calculations and VariablesLinear regression calculations Quadratic regression calculation Variables Content 17857 53000Single-variable statistical calculation Linear regression calculation Quadratic regression calculation TVM solver Financial Calculation FormulasAmortization calculations Discounted cash ﬂow analysis Bond calculations Conversion between APR and EFF Depreciation calculationsDay and date calculations Cost/Sell/Margin/Markup calculations Statistical Calcula- tion FormulasBreakeven calculations Error codes and error types Errors and Calculation RangesSyntax error Error Calculation error Error No solution Error Equation too long ErrorDisplay error Error Input value error Error Function Calculation range Calculation ranges of functions Integer When to replace the battery Battery Replacement Automatic power-off function Replacement procedurePriority Levels in Calculations For more information about business/ ﬁnancial calculators SpeciﬁcationsKey operation and calculation priority Index Formulas, 72-75 FV, 18, 22, 72 GRAD, 8, 9, 61 Memo