Texas Instruments TI-83 PLUS - Manual (Page 459)

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 Н Н 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 .