Texas Instruments BA Real Estate User Manual

20 Mortgages and Amortization
BEAR-CH1.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:16 PM Printed: 09/28/99 1:16 PM
Page 20 of 36
Press
# ,
until the BGN indicator disappears.
Steps Keystrokes Display
Clear TVM values.
#
-
0.00
Set P/Y and C/Y to 12.
#
+
12
j
j
P/Y = 12.00
C/Y = 12.00
12.00
Enter term in years.
30
0
TRM= 30.00
Enter interest rate on
the loan.
9.125
1
I% = 9.13
Enter price less down
payment.
130
q X
10
A
j
2
LN = 117,000.00
Compute monthly
payment.
$
3
PMT=
-
951.95
Find the monthly payment if the term of the loan is 15
years instead of 30.
Steps Keystrokes Display
Change term to 15
years.
15
0
TRM= 15.00
Compute payment.
$
3
PMT=
-
1,195.41
Computing a Monthly Mortgage Payment
Find the monthly payment on a home priced at $130,000
if the buyer makes a 10% down payment and finances the
balance with a 30-year mortgage at 9.125% annual
interest. If you are preparing a report for a client, fill in
the worksheet as you calculate the results.
Solution

Texas Instruments BA Real Estate Specifications

General

Type	Financial Calculator
Memory	10 memories
Power	Battery
Battery Type	CR2032
Automatic Power Down	Yes
Real Estate Functions	Yes
Financial Functions	Yes
Statistical Functions	Yes
Display	10-digit LCD