Texas Instruments BA Real Estate - Page 35

34 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 34 of 36
Steps Keystrokes Display
A
ccept range for
fourth year and show
previous I%.
j
j
P1 = 37.00
P2 = 48.00
I% = 10.00
Increase I% to the cap
for the loan, and
show PMT and BAL
for fourth year.
12
j
j
I% = 12.00
PMT=
-
1,012.28
BAL= 96,688.17
Exit ARM.
!
96,688.17
The payment for the remainder of the loan is $1,012.28.
Note: The worksheet on the next page omits step 1,
clearing the TVM values, due to page size restrictions.
Finding Periodic Payments for an ARM
(Continued)
Solution
(Continued)