Example 1

For Canadian mortgages, interest is compounded semi-annually and payments are made monthly. Therefore to calculate the loan above for a Canadian mortgage, the compounding frequency must be set to semi-annually and the payment frequency must be set to monthly.

1. The compounding frequency can be adjusted in one of two ways. The compute menu can be used to adjust it to semiannual or the context pop up menu in the compound frequency display field can be used to adjust it.

2. Since payment frequency was already set to monthly it must remain as is.

3. Click on the Calculate Button or Press Alt + = to compute the results. (Computations will be made automatically if activated in the compute menu)