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40 Mortgages and Amortization
BEAR-CH1.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:16 PM Printed: 09/28/99 1:16 PM
Page 40 of 36
To calculate bi-weekly payments, set up the current
mortgage in the TVM model and then press
L
. The
calculator uses the TVM values to compute the results.
Name Meaning
PMT=
The bi-weekly payment required.
N =
The total number of bi-weekly payments
required.
YRS=
The number of years required to retire the loan.
SAV=
The interest saved (rounded to the nearest
dollar) in comparison with monthly payments.
Press
j
repeatedly to display each result. Press
j
or
!
at the end of the list to exit the model.
Note: The first result, PMT, is not a copy of the TVM PMT
value. This PMT tells you what the bi-weekly payment
would be.
Bi-Weekly Mortgage Payments
You can find the effect of making bi-weekly payments (26
half-payments per year) instead of monthly payments.
Values Used by
the Model
41


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