Question about Texas Instruments BA-II Plus Calculator
The most common calculation would seem to be home loan payments. For the life of me, I can't get the correct answer with this blassed thing. I have a 200,000 mortgage for 30 years at 5.75% with monthly payments. How do I calculate it with this TI BA II Plus? Thanks.
Reset your calculator.
Input the followinw:
Note: If the interest is compounded monthly then you have to multiply 30 by 12 and divide 5.57 by 12.
Posted on Mar 02, 2009
Are you putting 30x12=360 for N? Since you have monthly payments, you have to compute it a little different. Also, you have to find the effective monthly interest rate. 1.0575^(1/12) = .4669839%.
Another way is to enter 30 for N and 5.57 for I/Y, and change P/Y to 12.
Hope this helps!
Posted on Apr 30, 2008
200,000 (PV) 5.75 (I/Y) 30 (2nd) (N)(N) (CPT)(PMT)
Posted on May 16, 2008
200,000(PV) 360(n) 0.47917(I/Y) (cpt) (FV)
if compounded monthly => 5.75%/12
Posted on Jun 18, 2008
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Posted on Jan 02, 2017
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The process of paying off a loan through specifically structured periodic payments is known as amortization. Amortized loans are different from other loans due to the way the amount and the structure of each payment is determined.
mortgage payments are a common form of amortized loans, and interestingly enough, both the term mortgage and the termamortization find their meaning in the same root word "mort." This term means to deaden or kill, as in to "kill off" or eliminate the loan a bit at a time, via regular payments.
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