User Manual

Mortgages and Amortization 43
BEAR-CH1.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:16 PM Printed: 09/28/99 1:16 PM
Page 43 of 36
Bi-Weekly Mortgage Payments
1. Clear TVM values (if not already cleared).
#
-
2. Enter term of loan (in years).
30
0
3. Enter interest rate.
8
1
4. Enter loan amount.
$115,000
2
5. Start Bi-Weekly and view the bi-weekly
payment amount.
L
$
.
421.91
6. View the number of bi-weekly payments
(N) required to pay off loan.
j
590.84
7. View the number of years (YRS) required.
j
22.66
8. View the interest saved at the end of the
term by making bi-weekly payments
instead of monthly payments.
j
$54,498.00