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+--- Thread: 41C Real Estate Pac manual minor erratum (/thread-4147.html)
41C Real Estate Pac manual minor erratum - Dave Britten - 06-13-2015 03:05 PM
One of the forumlae given for amortization on page 67 is wrong, at least in the printing present on the museum DVD:
Quote:BAL(j) = BAL(j-1) - PRN(j)
That should read:
Quote:BAL(j) = BAL(j-1) + PRN(j)
Note the sign difference. Gripping stuff, I know. Using the corrected formula (which matches the formula in the 12C manual), I get results matching the 12C for a 300 period amort of $50,000 at 13.25% anually with $573.35 payments.