TI-83 Plus Applications 456
Amortization Example: Calculating an Outstanding Loan Balance
You want to buy a home with a 30-year mortgage at 8 percent APR.
Monthly payments are 800. Calculate the outstanding loan balance after
each payment and display the results in a graph and in the table.
1. Press z. Press † ~ ~ ~ Í to set the
fixed-decimal mode setting to 2. Press † † ~
Í to select Par graphing mode.
2.Press Œ Í Í to display the
TVM Solver.
3. Press Í 360 to enter number of payments.
Press † 8 to enter the interest rate. Press † †
Ì 800 to enter the payment amount. Press † 0
to enter the future value of the mortgage. Press
† 12 to enter the payments per year, which
also sets the compounding periods per year to
12. Press † † Í to select PMT:END.