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| Sample Balloon Loan Amortization
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| Input Prompts | This page illustrates a sample
balloon loan showing the month-by-month amortization and payoff amounts.
The payment is calculated using the retail loan routine of the 627B LeaseMaker calculator set up with the Short Loan routine and with conventional balloon loan calculations. [To enable the Short Loan routine, push the Setup key and enter 54 in response to the CODE? prompt. Then press Yes.] [To enable the conventional (n-1) balloon
loan routine, push the Setup key and enter 53, press Yes and
then Yes again.] |
Input Prompts for the Short Loan Routine
| Push the [Loan] key to start the routine | |
| LOAN? 20000 | Enter the loan amount. |
| TERM? 36 | Enter the term of the loan. |
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DAYS TO #1? 30 |
Enter the number of days to the first payment - use 30 days and the Federal Calendar to make sure there is exactly one month to the first payment. |
| RATE %? 7.5 | Enter the annual interest rate percentage. |
| RV %/$? 10000 | Enter the balloon payment amount. |
| 35 PT @ 383.08 | The calculated payment appears. |
Amortization Schedule
#
BOM Bal Payment
Interest Prin
Payoff
=== ========= ========= ========
======== =========
1 20,000.00 383.08
125.00 258.08 19,741.92
2 19,741.92 383.08
123.39 259.69 19,482.23
3 19,482.23 383.08
121.76 261.32 19,220.91
4 19,220.91 383.08
120.13 262.95 18,957.96
5 18,957.96 383.08
118.49 264.59 18,693.37
6 18,693.37 383.08
116.83 266.25 18,427.12
7 18,427.12 383.08
115.17 267.91 18,159.21
8 18,159.21 383.08
113.50 269.58 17,889.63
9 17,889.63 383.08
111.81 271.27 17,618.36
10 17,618.36 383.08
110.11 272.97 17,345.39
11 17,345.39 383.08
108.41 274.67 17,070.72
12 17,070.72 383.08
106.69 276.39 16,794.33
13 16,794.33 383.08
104.96 278.12 16,516.22
14 16,516.22 383.08
103.23 279.85 16,236.36
15 16,236.36 383.08
101.48 281.60 15,954.76
16 15,954.76 383.08
99.72 283.36 15,671.40
17 15,671.40 383.08
97.95 285.13 15,386.26
18 15,386.26 383.08
96.16 286.92 15,099.35
19 15,099.35 383.08
94.37 288.71 14,810.64
20 14,810.64 383.08
92.57 290.51 14,520.13
21 14,520.13 383.08
90.75 292.33 14,227.80
22 14,227.80 383.08
88.92 294.16 13,933.64
23 13,933.64 383.08
87.09 295.99 13,637.65
24 13,637.65 383.08
85.24 297.84 13,339.80
25 13,339.80 383.08
83.37 299.71 13,040.09
26 13,040.09 383.08
81.50 301.58 12,738.52
27 12,738.52 383.08
79.62 303.46 12,435.05
28 12,435.05 383.08
77.72 305.36 12,129.69
29 12,129.69 383.08
75.81 307.27 11,822.42
30 11,822.42 383.08
73.89 309.19 11,513.23
31 11,513.23 383.08
71.96 311.12 11,202.11
32 11,202.11 383.08
70.01 313.07 10,889.04
33 10,889.04 383.08
68.06 315.02 10,574.02
34 10,574.02 383.08
66.09 316.99 10,257.03
35 10,257.03 383.08
64.11 318.97 9,938.05
36 9,938.05 10,000.00
61.95 9,938.05 0.00
========= ======== =========
Totals
23,407.80 3,407.80 20,000.00
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