Texas Instruments TI-84 PLUS SILV Guidebook - Page 266
Amortization Example: Calculating an Outstanding Loan Balance
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bal(npmt[,roundvalue]) GPrn(, GInt( GPrn( computes the sum of the principal during a specified period for an amortization schedule using stored values for ¾æ, PV, and PMT. pmt1 is the starting payment. pmt2 is the ending payment in the range. pmt1 and pmt2 must be positive integers < 10,000. roundvalue specifies the internal precision the calculator uses to calculate the principal; if you do not specify roundvalue, the TI-84 Plus uses the current Float/Fix decimal-mode setting. Note: You must enter values for æ, PV, PMT, and before computing the principal. GPrn(pmt1,pmt2[,roundvalue]) GInt( computes the sum of the interest during a specified period for an amortization schedule using stored values for ¾æ, PV, and PMT. pmt1 is the starting payment. pmt2 is the ending payment in the range. pmt1 and pmt2 must be positive integers < 10,000. roundvalue specifies the internal precision the calculator uses to calculate the interest; if you do not specify roundvalue, the TI-84 Plus uses the current Float/Fix decimal-mode setting. GInt(pmt1,pmt2[,roundvalue]) Amortization Example: Calculating an Outstanding Loan Balance You want to buy a home with a 30-year mortgage at 8 percent APR. Monthly payments are 800. Calculate the outstanding loan balance after each payment and display the results in a graph and in the table. 1. Press z. Press to set the fixed-decimal mode setting to 2. Press to select Par graphing mode. 2. Press Œ Í Í to display the TVM Solver. Chapter 14: Applications 259