Calculated Industries 3401 - Manual (Page 9)

U
SER
’
S
G
UIDE
- 7
KEYSTROKE DISPLAY
o o 0.00
1 5 5 0 0 0 l 155,000.00
3 0 T
30.00
1 1 0 0 p
1,100.00
ˆ 7.65
What is the periodic interest?
KEYSTROKE DISPLAY
ˆ
0.64
Loan Amount
How much can you borrow if the interest rate
is 7.75% on a 30-year mortgage and you
can afford to pay $1,200 each month?
KEYSTROKE DISPLAY
o o 0.00
7 • 7 5 ˆ
7.75
3 0 T
30.00
1 2 0 0 p 1,200.00
l 167,501.32
Interest–Only Payment (Calculation)
Find the Interest-Only payment on a loan of
$15,000 at 9% interest
KEYSTROKE DISPLAY
o o 0.00
1 5 0 0 0 l 15,000.00
9 ˆ
9.00
j
112.50