Using an older EL-533. lost manual. I want to figure out how a one time largish mtg ppl pre-payment along with extra ppl payments each month.. what is the payoff term shortened by.?? Interest savings?? i know how to get payment, adjust interest, etc. just cant remember key sequence to allow for a one time sum, then addl principle payment for remainder of loan.

premium X % X time
so 380,00000 X4/100 X 1 year
it calculated as the amount ( premium ) multiplied by the percentage of 100 multiplied by the period in years or parts of a year
so it can be 100 X 25% or 1/4(25/100) by the period (5 years or daily (1/365 of a year)
This is known as simple interest
compound interest is calculated on remaining premium after payment X the interest rate by the day or week or month
so for example 100 X 4/100 X 1/12 is the first calculation for the month and for the next month the calculation will be premium of 80 ( if a 20 payment was made in the month X 4/100 X 1/12 and so on if payment are made on time
pm the other hand if no payment are made then the premium goes up by the interest rate
so for the next month it is 104 X 4/100 X 1/12 and the month after that 108.16 X 4/100 X 1/12.and so on
banks use compound when calculating home loan repayments and simple interest when paying interest on your deposits
( has to be in the bank for 367 days to get the interest paid )

You have to tell the lender how to apply the extra. If you want it to apply to the next payment, enclose a note with your payment.

Depending what company you are with most will let you make extra payments. Some people spend money on going out to eat or buying coffee each day Well put the money you spend for coffee and lock it in a place and once a month put that on your loan. Coffee at two dollars a cup every day means over seven hundred dollars a year. Some people can save over a thousand dollars a year or more that way.
Also if you can pay twice a month the interest cost goes down as well. Even if you split your payments to twice a month your interest is cheaper than if you make a full payment once a month. Even weekly payments is better. The secret is if you come into extra money DON"T blow it. Pay down your debt.

If the payments are $211.00 for 84 months and initial loan amount is $14,000 then the simple interest rate is 6.9560 percent.
Total of payments is $17,723.64 including interest of $3,723.64.
I don't where you came up with $18,888.

Hi there,

To calculate present value you need to type in all the other missing values and then press COMP and PV.
For example: if the future value is R5000, the interest is 12% p.a. compounded monthly and it paid over 3 years.
Type in 5000 and press FV
type in 12 and I/Y
Press 2nd F and I/Y and make sure P/Y says 12 (for 12 payments per year).
Press ON
press 3 press 2nd F N and then press N again (for 36 payments in total). Make sure your screen says ANS -> N otherwise the calculation will not work.
Now if if your payments are 0 (in other words you are not making monthly payments) then press 0 and PMT,
Otherwise, if you are making monthly payments for e.g. R200 a month, type in +/- 200 PMT.
Now calculate your original amount by pressing COMP PV.
If you made no payments your original amount should be -3494.62
And if you chose to add payments your original amount should be
2 526.88.

This is happening because your calculator is converting the 10% interest figure into a monthly amount (ie 0.833333%), but it isn't changing the number of periods or the periodic payment into monthly equivalents. In both cases, it is assuming that payments are made at the end of each period.

So the figure of 10,168.06 is arrived at as follows:
end of period 1: 2,000.00
end of period 2: 2,000 x 1.00833333 + 2,000 = 4,016.67
end of period 3: 4,016.67 x 1.00833333 + 2,000 = 6,050.14
end of period 4: 6,050.14 x 1.00833333 + 2,000 = 8,100.56
end of period 5: 8,100.56 x 1.00833333 + 2,000 = 10,168.06

whereas the figure of 12,210.20 is arrived at as follows:
end of period 1: 2,000.00
end of period 2: 2,000 x 1.1 + 2,000 = 4,200.00
end of period 3: 4,200 x 1.1 + 2,000 = 6,620.00
end of period 4: 6,620 x 1.1 + 2,000 = 9,282.00
end of period 5: 9,282 x 1.1 + 2,000 = 12,210.20

You will need to find out from your user manual how to stop this from happening, so that all the numbers remain as annual figures. It will involve setting the number of payments per year [P/YR] to 1 instead of 12.

You can download the manual from the manufacturer's web site at
http://education.ti.com/calculators/downloads/US/Guidebooks/Detail?id=6114

You have your payments-per-year set to 1 and the calculator is showing an annual payment of $5000. Press 2nd [P/Y] 1 2 ENTER 2nd [QUIT] to change it to twelve (monthly). Now pressing CPT PMT should give you a monthly payment of $536.82.

100000+8%= Divide by 360

If you are paying your sales tax by invoice date - the payments will not affect your liablity. ie you owe the whole amount of sales tax as of the date of the invoice. If you are paying sales tax as of the time of payment. You will owe sales tax at the time you receive payment.
Since you are using progress invoicing, the sales tax would be come due at the time of the invoice. If you are just receiving payments, you would receive payments (as you would with any customer, and not invoice until time of completion. You would just need to make sure that your preference for sales tax due date is set to Invoice date, not time of payment.