Texas Instruments Calculator - Manual (Page 31)

Time-Value-of-Money and Amortization Worksheets 27
Answer: The interest rate is 5.5% per year.
Examples: Computing Basic Loan Payments
These examples show you how to compute basic loan payments on a
$75,000 mortgage at 5.5% for 30 years.
Note: After you complete the first example, you should not have to re-
enter the values for loan amount and interest rate. The calculator saves
the values you enter for later use.
Computing Monthly Payments
Answer: The monthly payments are $425.84.
Computing Quarterly Payments
Note: The calculator automatically sets the number of compounding
periods (
C/Y ) to equal the number of payment periods ( P/Y ).
Enter loan amount. 75000 . PV= 75,000.00 õ
Enter payment amount. 425.84 S / PMT= -425.84 
Compute interest rate. % - I/Y= 5.50 
To Press Display
Set payments per year to 12. & [ 12 ! P/Y= 12.00 
Return to standard-calculator
mode. & U 0.00
Enter number of payments
using payment multiplier. 30 & Z , N= 360.00 
Enter interest rate. 5.5 - I/Y= 5.50 
Enter loan amount. 75000 . PV= 75,000.00 õ
Compute payment. % / PMT= -425.84 
To Press Display
Set payments per year to 4. & [ 4 ! P/Y= 4.00 
Return to standard-calculator
mode. & U 0.00
Enter number of payments
using payment multiplier. 30 & Z , N= 120.00 
To Press Display