Texas Instruments BA Real Estate Manual de usuario

BA Real Estate™

Financial Calculator Guidebook

10”

7.5”

BUSINESS ANALYST

ON/C

OFF

PITI

AMORT

CPT

2nd

TERM

LOAN PMT

QUAL INC

QUAL LA

PRICE

BI-WKLY

ARM APR

STO

RCL

NP/Y

CLR TVM

#PD

APPREC

TAX&INS$

NOM

EFF

PDS/YR

INS %

TAX %

DEBT %

INC %

ROUND

FIX

BGN/END

789

456

123

0000

쎵

앥

쎹

앦

쏁

폷

쎵앛앥

88 85 46 29 84

16 17 17 16

16 16 16 16 16

69 69 69 69 89

53 90 89

72 72 72

89 40 32 74 89

91 86

52 29

Key Index

To find information about a specific key, refer to the page

number next to the key.

BA Real Estateé

FINANCIAL CALCULATOR

GUIDEBOOK

Guidebook Developed by:

The staff of Texas Instruments Instructional

Communications

With Contributions by:

Dave Caldwell

Charlotte Clark

Bob Fedorisko

Mike Keller

Jackie Quiram

Tammy Richards

Gary Rouse

This digital apparatus does not exceed the Class B limits

for radio noise emissions from digital apparatus set out in

the Radio Interference Regulations of the Canadian

Department of Communications.

BEAR-TOC.DOC BA Real Estate Guidebook Bob Fedorisko Revised: 08/29/96 9:20 AM Printed: 09/28/99 1:22 PM

Page 3 of 2

Getting Started ....................................................................... 5

FInding the Monthly Payment on a Loan ............................ 6

Calculating Total Payment (PITI) ........................................ 7

Amortization for the First Year ............................................ 8

Finding a Pay-off Balance ..................................................... 9

Changing the Conditions of the Loan ................................ 10

Estimating Appreciation...................................................... 11

Qualifying a Buyer for a Loan............................................. 12

Going Further ....................................................................... 14

The Time-Value-of-Money (TVM) Model ........................... 16

Changing TVM Settings ....................................................... 17

Setting Default Rates for Your Area .................................. 18

Calculating Down Payments............................................... 19

Computing a Monthly Mortgage Payment......................... 20

Finding the Unpaid Balance on a Mortgage...................... 22

Paying Off a Loan with Larger Payments.......................... 24

Calculating a Balloon Payment .......................................... 26

Finding the Payment for a Mortgage with a Balloon ....... 28

Total Payment Including Taxes and Insurance (PITI)..... 29

Computing Total Payment (PITI)....................................... 30

Adjustable-Rate Mortgage (ARM) ...................................... 32

Finding Periodic Payments for an ARM ............................ 33

Comparing an ARM to a Fixed-Rate Mortgage................. 36

Bi-Weekly Mortgage Payments........................................... 40

Calculating a Mortgage with Bi-Weekly Payments .......... 42

Finding the Balance on a Canadian Loan.......................... 44

Amortization (AMORT) ....................................................... 46

Finding the Principal and Interest Paid............................. 47

Buyer Qualification: Maximum Loan Amount .................. 52

Buyer Qualification: Minimum Income Required............. 53

Finding the Qualifying Loan Amount................................. 54

Finding the Minimum Income Required............................ 56

Finding the Maximum Allowable Debt.............................. 58

Finding the Net Cost of Housing ........................................ 60

Table of Contents

This guidebook begins with a section designed to help

you quickly learn about the BA Real EstateTM calculator

and its capabilities. The remainder of the book contains

examples of and information about specific kinds of

financial calculations. General calculator operation and

service information are discussed in the Appendix.

Getting Started

Chapter 1:

Mortgages and

Amortization

Chapter 2:

Buyer

Qualification

BEAR-TOC.DOC BA Real Estate Guidebook Bob Fedorisko Revised: 09/28/99 3:32 PM Printed: 09/28/99 3:33 PM

Page 4 of 2

Finding the Future Value of a Lump Sum.......................... 64

Saving for the Future with Regular Deposits.................... 66

Percent Change and Appreciation Model.......................... 69

Calculating Percent Change and Appreciation................. 70

Interest Conversion Model.................................................. 72

Annual Percentage Rate (APR) .......................................... 74

Finding the APR of a Refinanced Loan.............................. 76

Pricing a Note to Meet a Required Yield ........................... 78

Calculating the Yield of a Discounted Mortgage .............. 80

Finding the Net Selling Price after Commission .............. 82

Effects of Turning the Calculator On and Off................... 84

The Display and Indicators ................................................. 85

Setting the Fixed-Decimal Format..................................... 86

Entering Numbers and Clearing the Calculator ............... 87

Calculations .......................................................................... 88

Basic Arithmetic................................................................... 89

Percent Calculations............................................................ 90

Rounding Results ................................................................. 91

Using Memory....................................................................... 92

Battery Information ............................................................. 93

Support and Service Information....................................... 94

Warranty Information .......................................................... 95

Chapter 3:

Other Financial

Tools

Appendix

Gettmg Started 5

BEAR-CH0.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:17 PM Printed: 09/28/99 1:20 PM

Page 5 of 10

The #,key sequence lets you alternate between

beginning-of-period and end-of-period payments. For

example, a savings or lease situation may require

payments at the beginning of each payment period, while

most loans have payments at the end of each period. These

settings affect how interest is calculated.

When the calculator is set to beginning-of-period, the BGN

indicator is displayed. There is no indicator for the end-of-

period setting.

Note: All of the examples in this section assume end-of-

period payments.

To set the payment timing to end-of-period, press

#,until the BGN indicator is turned off.

(BGN/END is the second function of the 3key.)

The #+key sequence lets you enter the number of

payments (P/Y) per year and the number of compounding

periods (C/Y) per year.

Most loans have an equal number of payment periods and

compounding periods per year. Other Time Value of

Money (TVM) situations, however, may have differing

periods. For example, a savings account may receive

regular monthly deposits (P/Y = 12), but have daily

compounding (C/Y = 365).

All of the examples in this section have 12 payment

periods and 12 compounding periods per year.

Before starting these examples, be sure that P/Y and C/Y

are set to 12. Press #+12 jj. (P/Y is the second

function of the 1key.)

All of the examples in this section (and, in general,

throughout the guidebook) are shown with the decimal set

to two places. To set two decimal places, press

#o2.

Getting Started

The examples on the following eight pages introduce you

quickly to the major features of the BA Real EstateTM

calculator. Try working the examples to find out how easy

it is to solve real estate calculations! Before starting,

however, perform the settings shown on this page to

ensure that the examples give the expected results.

Setting

Beginning- or

End-of-Period

Payments

Setting

Payment and

Compounding

Periods

Setting the

Number of

Decimal Places

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 q2.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%.

Gettmg Started 7

BEAR-CH0.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:17 PM Printed: 09/28/99 1:20 PM

Page 7 of 10

Assume that the local property-tax

rate is 1.5% annually and the annual

insurance rate is 0.5%. If the selling

price of the house is $153,000, what

will be the total monthly payment?

1. Enter the local property-tax rate.

Press 1.5 #Z.TX%= 1.50

2. Enter the annual insurance rate.

Press .5 #Q.IS% = 0.50

3. Enter the selling price.

Press 153 q@.PRC= 153,000.00

4. Compute PITI.

Press $&.PITI= -1,208.89

Note: The P&I payment was calculated on the previous page. The property

tax rate (Z) and the insurance rate (Q) will remain in the calculator

until you change them or remove the batteries. Turning the calculator off

does not clear this information.

Calculating Total Payment (PITI)

Monthly house payments often include not only principal

and interest (the payback on the loan), but also property

taxes and insurance. Using the data you entered in the

previous example, you can compute the total payment

including principal, interest, taxes, and insurance (PITI).

8 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 8 of 10

1. To start Amortization, press

%.P1 = 1.00

2. Enter the number of the first

payment period (P1).

Press 1 jto enter the value for

P1 and advance to P2. P2 = 1.00

3. Enter the number of the last

payment (P2), and compute

balance, principal, and interest.

Press 12 jto change P2 and

start the list of results. The loan

balance after P2 is displayed. P2 = 12.00

BAL= 128,914.07

4. Advance to the amount of

principal paid in the first 12

payments.

Press j.PRN= -1,085.93

5. Advance to the amount of

interest paid in the first 12

payments.

Press j.INT= -10,360.75

To leave Amortization, press !.

Amortization for the First Year

The Amortization model prompts you for the starting and

ending payment numbers to define a range of payment

periods. You can then use the TVM values you entered

earlier to find the loan balance after the last payment and

the total principal and interest paid in the range. Find the

balance, principal, and interest after 12 payments.

Gettmg Started 9

BEAR-CH0.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:17 PM Printed: 09/28/99 1:20 PM

Page 9 of 10

1. To start Amortization, press

%.P1 = 1.00

2. Enter the number of the first

payment period (P1).

Press 1 jto enter the value for

P1 and advance to P2. P2 = 1.00

3. Calculate the number of

payments in 3½ years , enter as

P2, and compute balance,

principal, and interest.

Press 12 O3.5 jto calculate

and enter P2 and start the list of

results. The loan balance after

P2 is displayed. P2 = 42.00

BAL= 125,788.43

4. Show the amount of principal

paid in 3½ years.

Press jPRN= -4,211.57

5. Show the amount of interest

paid in 3½ years.

Press j.INT= -35,851.81

To leave Amortization, press !.

Finding a Pay-off Balance

If the property is sold after 3.5 years, what amount will be

required to pay off the loan? Use the Amortization model

to find the balance after 3.5 years of payments.

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