Time Value of Money Calculations66
Figure 9 Cash flow diagram (Calculate PMT)
Set to End mode. Press \¯ if BEGIN annunciator is displayed.
Step 2
Since the payment is at the end of the month, the past payment and the balloon payment
occur at the same time. The final payment is the sum of PMT and FV.
Table 6-6 Calculating the monthly payment
Keys Display Description
JG\Í
12.00 Sets periods per year.
GV\Ú
300.00 Stores length of mortgage (25 ×
12 = 300 mo nt h s) .
:É
0.00 Stores loan balance after 25
years.
JjGV::Ï
172,500.00 Stores original loan balance.
g7gÒ
8.80 Stores annual interest rate.
Ì
-1,424.06 Calculates the monthly payment.
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