Gettmg Started 9
BEAR-CH0.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:17 PM Printed: 09/28/99 1:20 PM
Page 9 of 10
1. To start Amortization, press
%
.
P1 =
1.00
2. Enter the number of the first
payment period (P1).
Press 1
j
to enter the value for
P1 and advance to P2.
P2 =
1.00
3. Calculate the number of
payments in 3½ years , enter as
P2, and compute balance,
principal, and interest.
Press 12
O
3.5
j
to calculate
and enter P2 and start the list of
results. The loan balance after
P2 is displayed.
P2 =
42.00
BAL=
125,788.43
4. Show the amount of principal
paid in 3½ years.
Press
j
PRN=
-
4,211.57
5. Show the amount of interest
paid in 3½ years.
Press
j
.
INT=
-
35,851.81
To leave Amortization, press
!
.
Finding a Pay-off Balance
If the property is sold after 3.5 years, what amount will be
required to pay off the loan? Use the Amortization model
to find the balance after 3.5 years of payments.
