Question about Texas Instruments TI-30XA Calculator
I'm working with an Attorney on Estate and we need to get the present vlaue on some notes owed by the deceased. There are two notes that were doen for 30 yrs no interest on both:
1). Loan amount $48000 taken on 5-4-2
2). Loan amount $54077 taken on 11-24-2
The estate does not have the money to pay in full, so were trying to come up with the present value to offer the lender.
The present value of any future monthly (?) stream of payments stretching some 24 years into the future takes into account the time value of money and depends on the interest rate assumed to apply for each month throughout those 24 years.
There are formulae to calc this for an equal monthly payment and a constant interest rate, over the term but for a variable interest rate you need a spreadsheet.
In the simple case of zero interest assumed throughout the term, present value = current principal balance, but for any positive interest rate, the total present value of the future payment stream is less than the current principal balance.
Posted on Jan 01, 2009
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