Guys - I am sure most of you already know this, but I just found out yesterday that you can get a amortization schedule using your calculator… Its works on a TI BA II professional. here is the link (it is hidden in second half of the thread - jo_l explains it well) http://www.analystforum.com/phorums/read.php?11,764241 Saved me sometime (in math and capital lease questions) as I was making some stupid errors…
i am bad with it, i got HP12c, but i know you just change N and you hit PV again and it gives you balance after X # of yrs
I believe just changing the N won’t get you the right answer. The reason is that the Balance liability for a 10 year lease after you have paid year 1 is not the same as Initial liability for a 9 year lease. You will either have to use amortization schedule or manually 1) calculate Interest due 2) subtract Interest due from lease payment to get the Principle paid 3) subtract Principle paid from the initial liability to get the balance liability
you use the amortization schedule from cal. to save time and errors… once you have the PV, hit 2nd PV which brings the amort. schedule… Then you can change P1 (begining) and P2(ending) to find cumulative, curr balance, interest.