Calculated-industries 3420 User Guide Manual de usuario descargar pdf (Pagina 41)

40 — Q

UALIFIER

LUS

III

Amortization List for a Range of Payments or Years

For a $225,000, 25-year mortgage at 7.4% interest, find out how

much interest and principal you'll pay in payments 1-9, and then for

years 1-10.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Mortgage Amount 2 2 5 ) l 225,000.00

Enter Interest 7 • 4 ˆ 7.40

Enter Term 2 5 T 25.00

Find monthly Payment p “run” 1,631.89

Enter Payments #1-9 1 : 9 π a “run” 1-9

Find Interest a 12,240.39

Find Principal a 2,446.63

Find Principal and Interest a 14,687.01

Find Remaining Balance a 222,553.37

Find Remaining Term a 24.25

Enter Years #1-10 1 : 1 0 a “run” 1-120

Find Interest a 149,169.59

Find Principal a 46,657.27

Total Principal and Interest a 195,826.85

Find Remaining Balance a 178,342.73

Find Remaining Term a 15.00

Balloon Payment/Remaining Balance Needed to Pay Off

a Mortgage

You’re looking at a new home with the following financing available:

loan amount $225,000 at 6.75% amortized over 25 years but due

and payable after 10 years. What is the balloon payment (remaining

balance) after 10 years?

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Mortgage Amount 2 2 5 ) l 225,000.00

Enter Interest 6 • 7 5 ˆ 6.75

Enter Term 2 5 T 30.00

Find monthly P&I Payment p “run” 1,541.36

Find Balloon/Remaining

Balance after 10 years 1 0 s a “run” 175,202.35

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Calculated-industries 3420 User Guide Manual de usuario Pagina 41