Calculated Industries 3126 - Manual (Page 17)

Finding the Interest Rate of a Loan
Find the interest rate on a $98,500 mort-
gage with a 25 year term and a monthly
payment of $1,150.
Steps/Keystrokes Display
1. Clear calculator:
[On/C] [On/C] 0.00
2. Enter loan amount, term, monthly pay-
ment and find annual interest and peri-
odic rate:
98,500 [L/A]
98,500.00
25 [Term] 25.00
1,150 [Pmt] 1,150.00
[Int] “run” CdA 13.91
[Int] CdA 1.16
Finding a Loan Amount
How much can you borrow if the cur-
rent interest rate is 9.75% on a 25 year
term and you can pay $950 each month?
Steps/Keystrokes Display
1. Clear calculator:
[On/C] [On/C] 0.00
2. Enter interest, term and monthly pay-
ment. Then find loan amount:
9.75 [Int]
CdA 9.75
25 [Term] 25.00
950 [Pmt] 950.00
[L/A] “run” 108,236.46
User’s Guide — 17