TI-83 Plus Activities 592
Computing and Graphing MortgagePayments Problem
You are a loan officer at a mortgage company, and you recently closed
on a 30-year home mortgage at 8 percent interest with monthly
payments of 800. The new home owners want to know how much will be
applied to the interest and how much will be applied to the principal
when they make the 240th payment 20 years from now.
Procedure
1. Press z and set the fixed-decimal mode to 2 decimal places. Set
the other mode settings to the defaults.
2. Press Œ Í Í to display the TVM Solver. Enter these values.
Note: Enter a positive number (800) to show PMT as a cash inflow. Payment
values will be displayed as positive numbers on the graph. Enter 0 for FV,