Casio BF-100 - Page 20

6-3 Annual Payments
©
Annual
payment
is
performed
by
inputting
amount
borrowed
(FY),
number
of
periods
((@),
and
interest
rate
(@),
and
by
calculating
monthly
payment
(PJ)
in
the
“LOAN”
mode,
Interest
portion
(BI)
and
principal
portion
(PRA)
of
a
monthly
amortized
loan,
and
remaining
balance
(@J)
are
calculated
in
the
“AMORT”
mode.
(Press
the
key
until
“AMORT"
is
displayed.)
®
Either
input
or
output
of
®y),
(2),
@
and
can
be
accomplished.
However,
fii),
and
must
be
determined
by
calculating.
@
Monthly
fay
,
and
@)
can
be
determined
by
using
the
following
formulas.
INTy
=
BALy
yet
PRN,
=
PMT
—
INT,,
BAL,
=
BAL,
;—
PRN,
Example
—
What
is
the
monthly
payment
ona
loan
of
$40,000
borrowed
for
the
Purpose
of
buying
a
house
ata
10%
annual
interest
rate
for
15
years?
Also,
find
the
@,
and
(4)
for
the
Ist
and
2nd
monthly
payments.
OPERATION
READ-OUT
:
erostnam
i)
rs
(amount
borrowed)
40000
FY
40000.
(period)
156126
ee
|
802.
{interest
rate)
108128
m
(monthly
payment)
ass}
Pra)
—- 36 -
“AMORT"
eae
429.842047
st
Month
1
[ee
(payment
to
interest)
|
333.3333332|
(payment
to
Principal)
Ge
(remaining
balance)
aascs
ase
332.5290939
39806.1
7833
interest,
payment
to
principal
and
remaining
balance
can
be
made
<
{2nd month)
-~37-
fo Nee