User`s guide

Time Value of Money Calculations76
If you store, recall, or perform any other calculations during amortization, pressing 4 will
no longer cycle through interest, principal, and balance. To resume amortization with the
same set of periods, press v\Ê.
Example: Amortizing a Range of Payments
Calculate the first two years of the annual amortization schedule for a 30 year, 180,000
mortgage, at 7.75% annual interest with monthly payments.
Set to End mode. Press \¯ if BEGIN annunciator is displayed.
If you already know the mortgage payment, you can enter and store it just like you store the
other four values. Next, amortize the first year.
Table 6-18 Calculating the monthly payment
Keys Display Description
JG\Í
12.00 Sets payments per year.
D:\Ú
360.00 Stores total number of payments.
j7jVÒ
7. 75 Sto re s i n te re s t p er ye ar.
Jg::::Ï
180,000.00 Stores present value.
:É
0.00 Stores future value.
Ì
-1,289.54 Calculates the monthly payment.
Table 6-19 Calculating the loan balance after a year
Keys Display Description
JÆJG
12_ Enters starting and ending
periods.
\Ê
1– 12 Displays the PER and AMORT
annunciators and range.
4
-1,579.84 Displays the PRIN annunciator
and the principal paid in the first
year.
4
-13,894.67 Displays the INT annunciator
and the interest paid in the first
year.
4
178,42 0 .16 D isplays t he BAL annunciator
and the loan balance after one
year.