Sharp EL733A EL-733A Operation Manual - Page 66

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OIf. Now you are equipped with all the information that you need to calculate the return that you will be getting by wrapping this mortgage. Here is what this wrap-around mortgage looks like from your perspective: 15,000 1657.08 1 1 611 1 81 9 fotalt 1(3511 35:4 5: 360 1 -50'000 V -32'000 You have_ agreed to loan $50'000 up front, to make seventy-nine $1'678.40 payments, and to make one 32'000 balloon payment at the end of the 79th month. In exchange, the borrower has agreed to make monthly $1'657.08 payments to you for the next 360 months and to pay you a balloon of $15'000 at the end of those 360 payments. That may look long and complicated, but it really consists of only seven cash-flow groups. Remember when you are keying in the above cash-flow schedule, the maximum number you can key in for Ni is 99. This means that you will have to break that last stream of payments into three groups. Again, assuming you have been following this example from the beginning, the keystrokes to key in the above schedule are as follows: FM [RCLJ P41114.4 IPncin 50'000 l+/-1 CFi Group 1 78 [NI Ni 20.74 14-/-I El Group 2 32'020.74 1+/-I 82 MNi E) CF 99 Vie Ni RM 99 52,10Ni RM 16'657.08 Group 3 Group 4 Group 5 Group 6 Group 7

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OIf.
Now
you
are
equipped
with
all
the
information
that
you
need
to
calculate
the
return
that
you
will
be
getting
by
wrapping
this
mortgage.
Here
is
what
this
wrap
-around
mortgage
looks
like
from
your
perspective:
15,000
1657.08
1
1
6
11
1
8
1
9
fotalt
1
(35
11
35
:4
5
:
360
1
—50'000
V
-32'000
You
have_
agreed
to
loan
$50'000
up
front,
to
make
seventy-nine
$1'678.40
payments,
and
to
make
one
32'000
balloon
payment
at
the
end
of
the
79th
month.
In
exchange,
the
borrower
has
agreed
to
make
monthly
$1'657.08
payments
to
you
for
the
next
360
months
and
to
pay
you
a
balloon
of
$15'000
at
the
end
of
those
360
payments.
That
may
look
long
and
complicated,
but
it
really
consists
of
only
seven
cash
-flow
groups.
Remember
when
you
are
keying
in
the
above
cash
-flow
schedule,
the
maximum
number
you
can key
in
for
Ni
is
99.
This
means
that
you
will
have
to
break
that
last
stream
of
payments
into
three
groups.
Again,
assuming
you
have
been
following
this
example
from
the
beginning,
the
keystrokes
to
key
in
the
above
schedule
are
as
follows:
FM
[RCLJ
P41114.4
IPncin
50'000
l+/-1
CFi
78
[NI
Ni
20.74
14-/-I
El
32'020.74
1+/-I
82
MNi
E)
CF
99
Vie
Ni
RM
99
2,
510Ni
RM
16'657.08
Group
1
Group
2
Group
3
Group
4
Group
5
Group
6
Group
7