Loan Examples; Monthly Payment; Term; Interest Rate - Calculated Industries Mortgage PaymentCalc 3401 User Manual

LOAN EXAMPLES

Monthly Payment

Find the Monthly Payment on a 30-year loan
of $220,000 at 7.5% annual interest rate.
KEYSTROKE
o o
2 2 0 0 0 0 l
7 • 5 ˆ
3 0 T
p

Term

How long does it take to pay off a loan of
$275,000 at 6.5% interest if you make
payments of $1,700 each month?
KEYSTROKE
o o
2 7 5 0 0 0 l
6 • 5 ˆ
1 7 0 0 p
T
What is the Periodic term, or number of months?
KEYSTROKE
T

Interest Rate

Find the interest rate on a mortgage where
the loan amount is $155,000, term is 30
years and the Monthly Payment is $1,100.
U ' G
SER S UIDE
220,000.00
1,538.27
275,000.00
1,700.00
- 6
DISPLAY
0.00
7.50
30.00
DISPLAY
0.00
6.50
32.23
DISPLAY
386.76