Sharp EL-738 Specifications download pdf (Page 35)

8. Press

to calculate the next period of the amortization

schedule.

9. Repeat steps 5 to 7 above.

• If you press

during “AMRT P1” and “AMRT P2” entry,

the values for the next period of payment will be automatically

calculated and displayed.

• To end amortization calculations, press

. Pressing

during entry will clear the value entered.

Calculating mortgage payments and generat-

ing an amortization schedule

1. Calculate the monthly payment of a 20-year loan with a loan

amount of $90,000 and a 5.45% APR.

Procedure Key operation Display

Set all the variables to

default values.

000

Make sure ordinary annuity is set (BGN is not displayed).

Set TVM solver vari-

ables and calculate

payment.

90000

5.45

PMT=

-61656

Answer: The monthly payment is $616.56.

Now generate an amortization schedule for the ﬁ rst 5 years of the

loan. If the ﬁ rst payment is in August, the ﬁ rst year has 5 payment

periods and the following years have 12 payment periods each.

2. Calculate the amortization schedule for the ﬁ rst year.

Procedure Key operation Display

Change to amortization

calculation and enter 1

(August) for the starting

payment.

AMRT P1=

100

Enter 5 (December) for

the ending payment.

AMRT P2=

500

Display the remaining

balance.

BALANCE=

8895148

3 Financial FunctionsCurrent.indd 34 06.7.10 8:38:27 PM

1 2 ... 30 31 32 33 34 35 36 37 38 39 40 ... 87 88

Comments to this Manuals

No comments

Sharp EL-738 Specifications Page 35

Comments to this Manuals

Related products and manuals for Water pumps Sharp EL-738