70 5: Time Value of Money
12 4748
Balloon.
4 12
X
13.8
12; End mode
75,250
The problem is done in two steps:
1. Calculate the monthly payment without the balloon (FV=0).
2. Calculate the balloon payment after 4 years.
Keys: Display: Description:
"
]
" Display TVM menu.
@c
#$
5?@2
H<A
0EAH"
Clears history stack and TVM variables.
.
@c
e
"
If needed: sets 12 payment
periods per year; End
mode.
Step 1. Calculate PMT for the mortgage.
25
@
T
<8%((&((" Figures and stores the
number of monthly
payments in 25 years.
13.8
U
;6@28#%&*(" Stores annual interest rate.
75250
V
5O8-.K$.(&((" Stores amount of the loan.
W
50:8/*,+&%%" Calculates monthly
payment.
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