Canadian Mortgages: TVM Canada36
Canadian Mortgage Example
Calculate the monthly payment for a 25-year (N=300) Canadian mortgage valued at
350,000.00, if the nominal interest rate is 6.0%, compounded twice yearly (C/YR=2) with 12
payments per year (P/YR). The example is calculated with RPN set as the operating mode.
To reset the menu, press
:x. With TVM displayed, press I. At the TVM Reset
prompt, press
I to reset, or O to cancel. To exit the menu, press O once
again. With the menu in its default settings, P/YR and C/YR are both set to 12 payments/
compounding periods per year.
Table 4-1 Canadian Mortgage Example
Keys Display Description
:u
Opens the Mode menu, starting with the
current FIX value (number of digits to the
right of the decimal point).
>I
Scrolls to TVM mode and sets mode to
TVM Canada.
O
Returns to default calculator screen.
:[12
I<2
I
Opens P/YR menu. Inputs 12 for P/YR
and 2 for C/YR.
O300
N6Y35
0000
V
Exits menu and inputs values for N, I/YR,
and PV.
M
Calculates the monthly payment as
required by the example.
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