Texas Instruments BA Real Estate - Amortization (AMORT)

Mortgages and Amortization 45
BEAR-CH1.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:16 PM Printed: 09/28/99 1:16 PM
Page 45 of 36
Payment and Remaining Balance on a Canadian Mortgage
1. Clear TVM values (if not already cleared).
#
-
2. Enter number of payment periods per
year.
#
+
12
j
3. Set compounding periods to semi-annual.
2
j
4. Enter term of loan (in years).
30
0
5. Enter interest rate.
8.25
1
6. Enter loan amount.
$168,000.00
2
7. Compute payment amount.
$
3
$
.
1,245.83
8. Enter number of payments made,
and store as N.
5
O
12
j
60
#
*
9. Compute balance at end of period.
$
4
$
.
159,879.69