Calculated-industries 3420 User Guide Manual de usuario descargar pdf (Pagina 39)

38 — Q

UALIFIER

LUS

III

Amortization List for Individual Year(s) —

Using Month Offset

The first payment of a mortgage begins in May. How much total

interest and principal will you pay on a 25-year, $90,000 mortgage at

8% interest during the first year? The second year? Third year, etc.?

(First find monthly payment to “set-up” this mortgage.)

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Set Month Offset to May 5 s ) 5.00

Enter Mortgage Amount 9 0 ) l 90,000.00

Enter Interest 8 ˆ 8.00

Enter Term 2 5 T 25.00

Find monthly P&I Payment p “run” 686.89

Enter Year 1 1 a “run” 1-8

Find total Interest in Year 1 a 4,703.92

Find total Principal in Year 1 a 791.22

Find Prin./Interest in Year 1 a 5,495.14

Find Remaining Balance a 89,208.78

Find Remaining Term a 24.33

Display next year (Year 2) a “run” 9-20

(etc. — sequence repeats for each year)

Return Mo. Offset to 1* 1 s ) 1.00

*Note: Remember to reset Month Offset to 1. Check this setting by pressing

® )

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Calculated-industries 3420 User Guide Manual de usuario Pagina 39