Sharp EL733A EL-733A Operation Manual - Page 49

so

the

information

in

the

TVM

registers

will

already

be

correct.

Look

at

this

example:

Example:

What

is

the

payment

on

a

15

-year

mortgage

of

$69'000

at

9.65%

APR

compounded

monthly?

Also,

what

is

breakdown

of

interest

-vs

-principal

at

the

end

of

each

of

the

fi

rst

three

years?

Solution:

This

type

of

payment

calculation

should

be

getting

easy

for

you

by

this

point

in

your

reading.

Here

are

the

keystrokes:

(Mode:

FIN)

69'000

EJ

15

Fin

V121E)

9.65

fr

i9

M

0

E

Result:

—726.77

Now,

since

all

the

information

about

the

loan

is

stored

in

the

TVM

registers,

you

can

build

the

amortization

schedule.

To

compute

the

principal,

interest,

and

balance

paid

from

the

fi

rst

payment

to

the

twelfth

payment,

press:

1

12

P/P

[Ace]

The

display

shows

—2156.51

and

a

display

indicator

"ZPRN"

comes

on.

EPRN

stands

for

ACCUMULATED

PRINCIPAL.

This

display

tells

you

that

the

fi

rst

twelve

months

of

payments

consist

of

$2156.51

in

principal.

Press

(ACC]

again.

The

display

shows

—6564.77

and

the

indicator

ZINT

comes

on.

This

display

tells

you

that

the

fi

rst

twelve

months

of

payments

consist

of

$6564.77

in

interest.

91

For

the

next

12

months,

press:

13

JU

24

UR

(AM

IPRN:

—2'374.07

IACCI

ZINT:

—6347.22

For

the

third

12

months,

press:

25

Gra

36

RJR

In

(ACC)

/PEN:

-2'613.57

TINT:

—6107.71

You

can

continue

breaking

the

loan

down

year

by

year

in

the

above

fashion

until

you

reach

the

end

of

the

15th

year.

Question:

In

the

above

loan,

what

is

the

interest

and

principal

paid

in

the

45th

payment,

and

what

is

the

balance

yet

to

be

paid

on

the

loan

after

that

payment?

Solution:

Press:

45

AMR

Result:

—244.53

Notice

the

indicator

'PEN"

that

came

on

in

the

display.

This

indicator

tells

you

that

the

part

of

the

45th

payment

that

is

principal

is

now

shown

in

the

display.

So

the

principal

portion

is

$244.53.

Press

Pin

again.

This

display

shows

—482.25

and

the

INT

indicator

comes

on

in

the

display.

This

says

that

the

portion

of

the

45th

payment

that

is

interest

is

$482.25.

Finally,

to

see

the

balance

of

the

loan

after

the

45th

payment,

press

(AMR

-

0

once

again.

The

number

59'724.05

shows

in

the

display

along

with

the

indicator

"BAL."

The

balance

of

the

loan

after

the

45th

payment

is

$59724.05.

95

Sharp EL733A EL-733A Operation Manual - Page 49

Sharp EL733A Manual

Page 49 highlights