Calculated Industries 3430-KIT - Manual (Page 41)

40 — Q
UALIFIER
P
LUS
® III
FX
Amortization List for Individual Payment(s)
For a $175,000 loan at 6.85% interest for 30 years, find out how
much interest and how much principal you’ll pay in the first and sec-
ond payments.
Note: Use the s b keys to specify payments (periods).
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter Loan Amount 1 7 5 ) l 175,000.00
Enter annual Interest rate 6 • 8 5 ˆ 6.85
Enter Term in years 3 0 T 30.00
Find monthly P&I Payment p “run” 1,146.70*
Enter Payment #1 1 s b a ** “run” 1-1
Find interest in Payment #1 a 998.96
Find principal in Payment #1 a 147.75
Find P & I in Payment #1 a 1,146.70
Find remaining balance after
Payment #1 a 174,852.25
Find remaining term after
Payment #1 a 29.92
Find mortgage interest deduction
in Payment #1 a 279.71
Display Payment #2 a “run” 2-2
(etc. — sequence repeats for each payment)
— DO NOT CLEAR CALCULATOR —
For the same loan, find the amount of principal and interest paid in
the 36th payment. Also, find the total payment, remaining balance
and remaining term.
STEPS KEYSTROKES DISPLAY
Enter Payment #36 3 6 s b a ** “run” 36-36
Find interest in Payment #36 a 966.39
Find principal in Payment
#36 a 180.32
Find P & I in Payment #36 a 1,146.70*
Find remaining balance after
Payment #36 a 169,113.79
Find remaining term after
Payment #36 a 27.00
*Note: Payments are rounded to the nearest whole cent; therefore, the penny difference.
**Note: For desktop model, press π a to perform this function.