Calculated Industries 3430 Pocket Reference Guide User Manual
Page 18
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P
OCKET
R
EFERENCE
G
UIDE
— 14
Amortization
• Loan: $300,000
• Term: 30 years
• Interest: 7.5%
Find total interest and principal for the life
of the loan:
STEPS
KEYSTROKES
DISPLAY
Clear
o o
0.00
Enter loan
3 0 0 ) l
300,000.00
Enter interest
7 • 5 ˆ
7.50
Enter term
3 0 T
30.00
Find P&I pmt
p
2,097.64
Find # pmts
a
1-360
Find total int.
a
455,151.67
Find total prin.
a
300,000.00
Find total pmts
a
755,151.67
Find all values for the first year:
Enter Year 1
1 a
1-12
Find total int.
a
22,406.22
Find total prin.
a
2,765.50
Find total pmts
a
25,171.72
Find balance
a
297,234.50
Rem. term
a
29.00
Tax deduct.
a
6,273.74
Note: Based on default 28% tax bracket and
loan starting in January. To change these val-
ues, see Large User’s Guide.
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