Prepared for ________________________________ By _________________________ Date ____________
Copyright © 1993, 1996 by Texas Instruments Incorporated.
12
BA Real Estate™ Worksheet
Texas Instruments grants permission to reproduce this page for limited office use with clients. All other rights reserved.
Adjustable Rate Mortgage
1. Clear TVM values (if not already cleared).
#
-
2. Set number of payments per year and number of
compounding periods per year (if not already set).
#
+
_____________
_____________
j
j
3. Enter term of loan (in years).
0
4. Enter interest rate.
1
5. Enter loan amount.
2
6. Start ARM.
M
7. Accept the number of the initial payment (P1).
j
8. Enter the number of the ending payment (P2) for the
first adjustment period.
j
9. Accept the initial interest rate.
j
10. View monthly payment amount for this adjustment
period.
11. View balance at end of this adjustment period.
j
12. Return to P1 and accept updated P1 as beginning
payment of second adjustment period.
j
j
13. Accept the updated P2, or enter the number of the
ending payment of the second adjustment period.
j
14. Enter the interest rate for this period.
15. View payment amount for this adjustment period.
j
16. View balance at end of this adjustment period.
j
17. Return to P1 and accept updated P1 as the number of
the beginning payment of the new adjustment period.
j
j
18. Accept updated P2 as the number of the ending
payment of the new adjustment period.
j
19. Enter the interest rate for this period.
20. View payment amount for this adjustment period.
j
21. View balance at end of this adjustment period.
j
Repeat steps 17 through 21 until the maximum interest rate has been reached.
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