Example: computing basic loan interest – Texas Instruments BA II PLUS User Manual

Page 30

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26

Time-Value-of-Money and Amortization Worksheets

6.

Press

& \.

— or —
If

INT

is displayed, press

# to display

P1

again.

7.

To generate the amortization schedule, repeat steps 2 through 5 for
each range of payments.

Generating an Amortization Schedule Automatically

After entering the initial values for

P1

and

P2

, you can compute an

amortization schedule automatically.

1.

Press

& \.

— or —
If

INT

is displayed, press

# to display the current

P1

value.

2.

Press

%. Both

P1

and

P2

update automatically to represent the

next range of payments.

The calculator computes the next range of payments using the same
number of periods used with the previous range of payments. For
example, if the previous range was 1 through 12 (12 payments),
pressing

% updates the range to 13 through 24 (12 payments).

3.

Press

# to display

P2

.

If you press

% with

P1

displayed, a new value for

P2

will be

displayed automatically. (You can still enter a new value for

P2

.)

If you did not press

% with

P1

displayed, you can press

%

with

P2

displayed to enter values for both

P1

and

P2

in the next

range of payments.

4.

Press

# to display each of the automatically computed values for

BAL

,

PRN

, and

INT

in the next range of payments.

5.

Repeat steps 1 through 4 until the schedule is complete.

Example: Computing Basic Loan Interest

If you make a monthly payment of $425.84 on a 30-year mortgage for
$75,000, what is the interest rate on your mortgage?

To

Press

Display

Set payments per year to 12.

& [

12

!

P/Y=

12.00

Return to standard-calculator
mode.

& U

0.00

Enter number of payments
using the payment multiplier.

30

& Z ,

N=

360.00

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