Calculated Industries 3401 User Manual
Page 10
Advertising
U
SER
’
S
G
UIDE
- 8
Interest–Only Payment (Entry)
How much can you borrow if the interest rate
is 7% on a 30-year interest–only mortgage
and you can afford to pay $1,000 each
month?
KEYSTROKE
DISPLAY
o o
0.00
7 ˆ
7.00
1 0 0 0 j
1000.00
l
171,428.57
Quarterly Payment
Find the quarterly payment on a 10-year loan
of $15,000 at 10% annual interest rate.
KEYSTROKE
DISPLAY
o o
0.00
4 s ÷
4.00
1 0 T
10.00
1 5 0 0 0 l
15,000.00
1 0 ˆ
10.00
p
597.54
1 2 s ÷
(return to 12 pmts/yr)
12.00
Amortization-Total Interest and Principal
Paid
How much Interest, Principal and Total
Payments will you pay on a 30-year,
$180,000 loan at 7% interest?
Advertising