Balance After a Specified Payment
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A group of sellers considers financing the sale price of a property for
$82,000 at 7% annual interest, amortized over a 30-year term with a
balloon payment due after five years. They want to know:
• Amount of the monthly payment
• Amount of interest they will receive
• Remaining balance at the end of the term (balloon payment)
Computing the Monthly Payment
Display 2nd year amortization data. #
#
#
BAL=
PRN=
INT=
117,421.60*
_-1,507.03*
-7,242.53*
Move to P1 and press % to enter
next range of payments.
# % P1= 22.00
Display P2. # P2= 33.00
Display 3rd year amortization data. #
#
#
BAL=
PRN=
INT=
115,819.62*
-1601.98*
-7,147.58*
To Press Display
Set all variables to defaults. & } ! RST 0.00
Set payments per year to 12. & [ 12 ! P/Y= 12.00
Return to standard-calculator
mode.
& U 0.00
Enter number of payments
using payment multiplier.
30 & Z , N= 360.00
Enter interest rate. 7 - I/Y= 7.00
Enter loan amount. 82000 . PV= 82,000.00
Compute payment. % / PMT= -545.55
To Press Display
Generating an Amortization Schedule for Interest and
Balloon Payment
If the sellers financed the sale, they would receive:
• Monthly payment: $545.55 for five years
• Interest: $27,790.72 over the five years
• Balloon payment: $77,187.72
To Press Display
Select Amortization worksheet. & \ P1= 1.00
Enter end period (five years). # 5 & Z ! P2= 60.00
View balance due after five
years (balloon payment).
# BAL= 77,187.72
View interest paid after five
years.
# # INT= -27,920.72
Cash Flow Worksheet 41
A group of sellers considers financing the sale price of a property for
$82,000 at 7% annual interest, amortized over a 30-year term with a
balloon payment due after five years. They want to know:
• Amount of the monthly payment
• Amount of interest they will receive
• Remaining balance at the end of the term (balloon payment)
Computing the Monthly Payment
Display 2nd year amortization data. #
#
#
BAL=
PRN=
INT=
117,421.60*
_-1,507.03*
-7,242.53*
Move to P1 and press % to enter
next range of payments.
# % P1= 22.00
Display P2. # P2= 33.00
Display 3rd year amortization data. #
#
#
BAL=
PRN=
INT=
115,819.62*
-1601.98*
-7,147.58*
To Press Display
Set all variables to defaults. & } ! RST 0.00
Set payments per year to 12. & [ 12 ! P/Y= 12.00
Return to standard-calculator
mode.
& U 0.00
Enter number of payments
using payment multiplier.
30 & Z , N= 360.00
Enter interest rate. 7 - I/Y= 7.00
Enter loan amount. 82000 . PV= 82,000.00
Compute payment. % / PMT= -545.55
To Press Display
Generating an Amortization Schedule for Interest and
Balloon Payment
If the sellers financed the sale, they would receive:
• Monthly payment: $545.55 for five years
• Interest: $27,790.72 over the five years
• Balloon payment: $77,187.72
To Press Display
Select Amortization worksheet. & \ P1= 1.00
Enter end period (five years). # 5 & Z ! P2= 60.00
View balance due after five
years (balloon payment).
# BAL= 77,187.72
View interest paid after five
years.
# # INT= -27,920.72
Cash Flow Worksheet 41