Calculated Industries 3423 User Manual
Page 23
P
OCKET
R
EFERENCE
G
UIDE
— 19
Amortization (Total Principal /
Total Interest, Remaining Balance)
• Mortgage:
$175,000
• Term:
25 years
• Interest:
7.5%
Note: See large User’s Guide for more examples.
Find total interest, principal and total pay-
ments. Then, find the remaining balance
after ten years.
STEPS
KEYSTROKES
DISPLAY
Clear
o o
0.00
Enter Mortgage
1 7 5 ) l
175,000.00
Enter Term
2 5 T
25.00
Enter Interest
7 • 5 ˆ
7.50
Find Payment
p
1,280.22
Find # pmts.
a
1-300
Find ttl. int.
a
209,066.33
Find ttl. prin.
a
175,000.00
Find ttl. pmts
a
384,066.33
Find balance
1 0 s a
139,076.82
Note: If Canadian Mortgage Insurance (Cdn MI)
is entered, payment, total interest, total principal,
total payments, and remaining balance values
will be based on the loan amount (incuding mort-
gage insurance).