Calculated Industries 43285 - Manual (Page 28)

Principal/Interest — Range of Payments/Years
For a $125,000 loan at 10.25% interest for 30 years, find out
how much interest and how much principal you’ll pay in pay-
ments 1-9 and years 1-10.
Steps Keystrokes Display
Clear calculator [Off] [On/C] 0.00
Enter loan amount 125,000 [L/A] 125,000.00
Enter interest 10.25 [Int] 10.25
Enter term 30 [Term] 30.00
Find monthly payment [Pmt] “run” 1,120.13
Enter pmt periods 1-9 1 [:] 9 [Per] [Amort] “run” 1-9
Find interest [Amort] 9,592.93
Find principal [Amort] 488.21
Enter years 1-10 1 [:] 10 [Amort] “run” 1-120
Find interest [Amort] 123,522.48
Find principal [Amort] 10,892.71
Balloon Payment/Remaining Balance Needed to Pay Off a Loan
You are looking at a new home with the following financing
available: Loan amount $125,000 at 8.75% amortized over 30
years but due and payable after 10 years. What is the balloon
payment (remaining balance) after 10 years?
Steps Keystrokes Display
Clear calculator [On/C] [On/C] 0.00
Enter the loan amount 125,000 [L/A] 125,000.00
Enter interest 8.75 [Int] 8.75
Enter term 30 [Term] 30.00
Find monthly payment [Pmt] “run” 983.38
Find balloon/remaining
balance after 10 years 10 [Bal] “run” 111,277.99
27 – User’s Guide