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With the Qualifier Plus IIIx, desktop and IIIFX we also have the
ability to find a balloon payment or a remaining balance.
So with this calculation let's enter a $250,000
loan amount.
We'll do 30 years as our term.
We'll give it a
5.875% interest
and we can solve
for our payment.
Now, we want to know what the balance is at the end of 8 years.
So all I have to do is press
[8][Shift]
[Amort]
and what that did was it gave me the balance at the end of 8 years.
Now I can also do
monthly. So maybe I have a 96th
payment I want to know the balance of
So I entered 96
I'm going to do [Shift] back arrow because I want that to be a 96th payment
and then I'm going to press [Shift]
[Amort]
and there's our balance after the end of the 96th payment.
So that's a quick overview on the balloon payment function. For more detail
go to www.calculated.com/support