Casio Financial Consultant FC-100V Manual - Página 11
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Doing Amortization with AMRT
Often borrower would want to re-finance long term loan. Using CMPD and AMRT in
combination, we can easily compare the cost of re-financing with the savings due to
decide whether the re-financing exercise would be profitable.
Example 5 ►>>
repaid over 4 years at
a penalty of 3 months' payments. Right after the 20
determines that his banker would lend him the money at
finance?
Operation
First let's find the monthly payment of the loan.
Enter CMPD mode, make sure calculator displays [Set:End]. Then scroll down
and enter 48 for [n], 18 for [ I% ], (-)8000 for [PV], 0 for [FV], 12 for [P/Y] and [C/Y].
CMPD
0
0
EXE
EXE
Scroll up to select [PMT] and solve it.
So the monthly payment is about $235 and the outstanding principal after 20
payments would be about $5340.78, as calculated below.
Enter AMRT mode and scroll down to enter 1 for [PM1] and 20 for [PM2]. Then,
scroll to select [BAL:Solve] and solve it.
AMRT
• • •
Thus the total to be refinanced is 5340.78 + 3(235) = $6045.78. Now we can obtain
the new monthly payment at CMPD mode for comparison.
Enter CMPD mode, enter 28 (less 20 months) for [n], 13.5 for [ I% ], (-)6045.78 for
[PV]. Other parameters' values are retained.
CMPD
•
5
EXE
5
•
QED Education Scientific
A borrower has an $8,000 loan with QED Finance which is to be
18
%
. In case of early repayment, the borrower is to pay
j
=
12
4
8
EXE
0
SOLVE
1
EXE
2
SOLVE
2
8
EXE
(─)
6
7
8
EXE
th
j
12
1
EXE
8
2
EXE
1
Output: PMT = 234.9999969
EXE
0
Output: BAL = -5340.778356
1
3
0
4
payment, the borrower
13
5 .
%
. Should he re-
=
(─)
8
0
1
EXE
2
Screenshot from Casio TVM
8