Texas Instruments BA Real Estate - Changing the Conditions of the Loan

10 Getting Started
BEAR-CH0.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:17 PM Printed: 09/28/99 1:20 PM
Page 10 of 10
1. Change the interest rate to
9%.
Press 9
1
.
I% = 9.00
2. Compute the new payment
at the higher interest rate.
Press
$ 3
.
PMT=
-
1,046.01
3. Change the interest rate to
9.5%.
Press 9.5
1
.
I% = 9.50
4. Change the term to 15
years.
Press 15
0
.
TRM= 15.00
5. Compute the new payment
amount (15-year loan).
Press
$ 3
.
PMT=
-
1,357.49
Changing the Conditions of the Loan
You can change any of the TVM values and then compute
a new value. Using the values you entered on page 6,
find the monthly payment at 9% interest. Then find the
monthly payment at 9.5% for a 15-year loan.