7 compute a value for the unknown variable to compute

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Unformatted text preview: data. The procedures on these pages give you two ways to generate an amortization schedule. Procedure: Generating an Amortization Schedule 1. Press \. P1 is displayed, along with the previous value. 2. Specify the range of payments. To enter a value for P1 (the first payment in the range), key in a value and press . To enter a value for P2 (the last payment in the range), press key in a value and press . . Then 3. Press repeatedly to view the automatically computed values for BAL, PRN, and INT. The remaining balance (BAL) after payment P2, and the principal (PRN) and interest (INT) paid over the specified range are displayed. 4. Press \ or, if INT is displayed, press to display P1 again. Repeat steps 2 and 3 for each range of payments to generate an amortization schedule. Procedure: Automatically Generating an Amortization Schedule After you enter the initial values for P1 and P2, as described above, you can automatically compute an amortization schedule. 1. Press \ or, if INT is displayed, press value you entered previously for P1. to display P1 and the 2. Press . This automatically updates both P1 and P2 to represent the next range of payments. The calculator computes the next range of payments using the same number of periods as in the previous range of payments. For example, if the previous range was 1 through 12 (12 payments), pressing updates the range to 13 through 24 (12 payments). Chapter 2: Using the TVM and Amortization Worksheets 25 Procedure: Automatically Generating an Amortization Schedule (Continued) 3. Press to display P2. If you pressed when P1 was displayed, a new value for P2 is automatically displayed. (You can still enter a new value for P2, if necessary.) If you did not press when P1 was displayed, you can press when P2 is displayed to enter values for both P1 and P2 for the next range of payments. 4. Press as needed to view the automatically computed values for BAL, PRN, and INT for the next range of payments. 5. Repeat steps 1 through 4 until the schedule is complete....
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