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Amortization List for Individual Year(s) — Using Month Offset
The first payment of a mortgage begins in May. How much total
interest and principal will you pay on a 25-year, $90,000 mortgage at
8% interest during the first year? The second year? Third year, etc.?
(First find monthly payment to "set-up" this mortgage.)
STEPS
Clear calculator
Set Month Offset to May
Enter Mortgage Amount
Enter Interest
Enter Term
Find monthly P&I Payment p
Enter Year 1
Find total Interest in Year 1 a
Find total Principal in Year 1 a
Find Prin./Interest in Year 1 a
Find Remaining Balance
Find Remaining Term
Display next year (Year 2) a
(etc. — sequence repeats for each year)
Return Mo. Offset to 1*
*Note: Remember to reset Month Offset to 1. Check this setting by pressing ® ) .
38 — Q
UALIFIER
KEYSTROKES
o o
5 s )
9 0 ) l
8 ˆ
2 5 T
1 a
a
a
1 s )
P
III
®
LUS
X
DISPLAY
0.00
5.00
90,000.00
8.00
25.00
"run" 686.89
"run" 1-8
4,703.92
791.22
5,495.14
89,208.78
24.33
"run" 9-20
1.00
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