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333
Perform the following key operation from the input screen.
b*bcw(Input
n = 1 × 12.)
e.fw
-baaaw(PV = –1,000)
-faaw(
PMT = –500)
c
bcw(Monthly installments)
(Monthly compounding)
5(
FV)
uu
uu
uBorrowing power
Example Calculate how much can be borrowed on a 15-year loan at a
7.5% annual interest rate, compounded monthly, if a payment
of $450 per month can be made.
In the set up screen, specify “End” for Payment and then press J.
Perform the following key operation from the input screen.
bf*bcw(Input
n = 15 × 12.)
h.fw
c
-efaw(
PMT = –450)
aw(
FV = 0)
bcw(Monthly installments)
(Monthly compounding)
3(
PV)
uu
uu
uLoan installments
Example Calculate the size of the monthly installment for a 25-year
$300,000 home loan made at 6.2%, compounded semiannually.
In the set up screen, specify “End” for Payment and then press J.
Perform the following key operation from the input screen.
cf*bcw(Input
n = 25 × 12.)
g.cw
daaaaaw(
PV = 300,000)
c
aw(
FV = 0)
bcw(Monthly installments)
cw(Semiannual compounding)
4(
PMT)
Compound Interest Calculations 19 - 3
P.7
P.7
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