User Manual

6 Getting Started
BEAR-CH0.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:17 PM Printed: 09/28/99 1:20 PM
Page 6 of 10
1. Clear any previous TVM values.
Press
# -
.
0.00
2. Enter the term of the loan
(30 years).
Press 30
0
.
TRM= 30.00
3. Enter the 8% interest rate
(annual percentage rate).
Press 8
1
.
I% = 8.00
4. Enter the $130,000 loan
amount.
Press 130
q 2
.
LN = 130,000.00
5. Compute the payment
amount.
Press
$ 3
.
PMT=
-
953.89
Note: PMT is displayed as a negative number because it is a cash outflow
(an amount you pay).
Finding the Monthly Payment on a Loan
The TVM keys make it easy to enter at least three known
values in a TVM (Time Value of Money) problem and then
compute the unknown value. Suppose, for example, you
want to know the monthly payment required for a 30-year,
$130,000 mortgage loan at an annual percentage rate of
8%.