Finance app 137
3. Type and store values for the TVM variables, I%YR,
PV, PMT, and FV, which define the payment schedule.
4. Enter the number of payments per amortization
period in the GSize field. By default, the group size
is 12 to reflect annual amortization.
5. Press . The calculator displays an amortization
table. The table contains amounts applied to interest
and principal, as well as the remaining balance of
the loan, for each amortization period.
Example-
Amortization for
home mortgage
Using the data from the previous example of a home
mortgage with balloon payment, calculate how much has
been applied to the principal, how much has been
applied to the interest, and the remaining balance of the
loan after the first 10 years (12x10 = 120 payments).
1. Verify and compare your
data from the previous
example with the figure
to the right.
2. Press
3. Scroll down the table to
Group 10 to see the
same results as shown
previously. After 10
years, $22,835.81 has
been paid on the principal, with an additional
$90,936.43 paid in interest, leaving a balloon
payment due of $127,164.19.
Amortization graph Press the Plot key to see the
amortization schedule
presented graphically. The
tracer shows the principal
and interest paid in each
payment group. Use the right- and left-cursor keys to trace
among the payment groups.
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