Amortized Loans

Amortization is used for most car loans and mortgages. In this section, we talk about the process of amortization. In later sections we will talk about the specifics of car loans and mortgages.

To calculate the monthly payments, some texts use tables while other texts use formulas. In this video, I will show the financial TVM app on the TI-84 calculator. Although I may show the tables or formulas in class, I use the TVM app for all calculations involving monthly payments (for both loans and investments).

Here is a blank script that you can use to follow along with the video. Finance Amortized Loans Blank Script.pdf

Here is a filled-in script taken from the video. Finance Amortized Loans Key.pdf

Here is an accessible version of the key from the video. Finance Amortized Loans Accessible Key.pdf

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