Calculated-industries 3420 User Guide Manual de usuario descargar pdf (Pagina 64)

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— 63

Amortization List for Individual Year(s) —

Using “Next” Feature

How much total interest and principal will you pay on a 30-year,

$90,000 loan at 8% interest during the first year? The second year?

Third year, etc.? First, find monthly payment to “set-up” this loan.

The calculator will automatically advance to the next year upon sub-

sequent presses of a.

Note: The mortgage interest tax deduction is based on the default tax bracket of 28%

unless you have changed it via

s +

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Loan Amount 9 0 ) l 90,000.00

Enter annual Interest rate 8 ˆ 8.00

Enter Term in years 3 0 T 30.00

Find monthly Payment p “run” 660.39

Enter Year 1 1 a “run” 1-12

Find total Interest in Year 1 a 7,172.83

Find total Principal in Year 1 a 751.83

Find Prin./Interest in Year 1 a 7,924.66

Find Remaining Balance a 89,248.17

Find Remaining Term a 29.00

Find Mortgage Interest

Tax deduction in Year 1 a 2,008.39

Display next year (Year 2) a “run” 13-24

Find total Interest in Year 2 a 7,110.43

Find total Principal in Year 2 a 814.23

Find Prin./Interest in Year 2 a 7,924.66

Find Remaining Balance a 88,433.94

Find Remaining Term a 28.00

Find Mortgage Interest

Tax deduction in Year 2 a 1,990.92

Display next year (Year 3) a “run” 25-36

(etc. — sequence repeats for each year)

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Calculated-industries 3420 User Guide Manual de usuario Pagina 64