Calculated Industries 3420 User Guide - Manual (Page 37)

36 — Q UALIFIER P LUS ® III X
(Cont’d)
Note: If you have changed your Month Offset, be sure to return it to 1 (i.e., 1
s ) ) before proceeding to the next problem.
7. (U.S. Mode Only) 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 + (Tax
Brkt%).
Note: If a tax bracket % is not entered, the calculator will use the default of 28%,
displayed upon
® + .
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 and Interest for a 25-Year Mortgage
How much total interest will you pay on a $200,000 mortgage at
7.5% interest over 25 years? What is the total principal and interest
paid?
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter Mortgage Amount 2 0 0 ) l 200,000.00
Enter Interest 7 • 5 ˆ 7.50
Enter Term 2 5 T 25.00
Find monthly P&I Payment p “run” 1,463.11
Find total # of Payments a “run” 1-300
Find total Interest paid a 238,932.95
Find total Principal paid a 200,000.00
Find total Principal/Interest a 438,932.95
3420UG-E-A 7/2/04 9:06 AM Page 36