Texas Instruments BA Real Estate - Payment and Remaining Balance on a Canadian Mortgage

Prepared for ________________________________ By _________________________ Date ____________
Copyright © 1993, 1996 by Texas Instruments Incorporated.
15
BA Real Estate™ Worksheet
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Payment and Remaining Balance on a Canadian Mortgage
1. Clear TVM values (if not already cleared).
# -
2. Enter number of payment periods per year.
# +
j
3. Set compounding periods to semi-annual. 2
j
4. Enter term of loan (in years).
0
5. Enter interest rate.
1
6. Enter loan amount.
2
7. Compute payment amount.
$ 3
8. Enter number of payments made, and store as
N.
__
O
__
j
# *
9. Compute balance at end of period.
$ 4
Note:
If you do not normally solve Canadian mortgage problems, be sure to restore the compounding periods per year
to 12.