Calculated Industries 3442 - Manual (Page 47)

42 — M
ORTGAGE
Q
UALIFIER
P
LUS
®
P X2
(Cont’d)
7. A useful new feature is that your calculator will also display an
estimated Mortgage Interest Tax Deduction at the end of the
amortization value list (after remaining balance is displayed), if a
tax bracket is also entered via
s p (Tax Brkt%).
Note: If a tax bracket % is not entered, the calculator will use the default tax
bracket of 21%, displayed upon
® s p .
8. Your calculator automatically advances to the Next Amortization
Range or Period after the initial sequence is complete, upon
repeated presses of
a . This saves you from entering the next
range or period each time.
Total Principal/Total Interest for a 30-Year Loan
How much total interest will you pay on a $300,000 loan at 7.5%
interest over 30 years? What is the total amount paid?
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter loan amount 3 0 0 ) l 300,000.00
Enter interest 7 • 5 ˆ 7.50
Enter term 3 0 T 30.00
Find monthly payment p “run” 2,097.64
Find total # of payments a “run” 1-360
Find total interest paid a 455,151.67
Find total principal paid a 300,000.00
Find total principal/interest a 755,151.67