Calculated Industries 43285 - Manual (Page 25)

[Set] and [:] keys. This allows you to calculate the correct
number of periods in the amortization range. For example,
if the first payment of a loan begins in April, the value
stored in the month offset would be 4 (4 [Set] [:]). If
requesting amortization values for year 1 (1 [Amort]), the
amortization of periods 1-9 would be displayed. Year 2 (2
[Amort]) would display values for periods 10-21. Turning
your calculator off and back on returns the Month Offset
to one (January).
Note: If you have changed your Month Offset, be sure to return it to
1 (i.e., 1 [Set] [:] or [Off]) before proceeding to the next problem.
Total Principal/Total Interest for a Loan
How much total interest will you pay on a $200,000 loan at
9.25% interest over 30 years?
Steps Keystrokes Display
Turn calc. off then back on [Off] [On/C] 0.00
Enter loan amount 200,000 [L/A] 200,000.00
Enter interest 9.25 [Int] 9.25
Enter term 30 [Term] 30.00
Find monthly payment [Pmt] “run” 1,645.35
Find total number of pmts [Amort] “run” 1-360
Find total interest paid [Amort] 392,326.31
Find total principal paid [Amort] 200,000.00
24 – Qualifier Plus ® IIx DT