41C Real Estate Pac manual minor erratum
06-13-2015, 03:05 PM
Post: #1
 Dave Britten Senior Member Posts: 1,185 Joined: Dec 2013
41C Real Estate Pac manual minor erratum
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)

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.