Amortization List For Individual Year(S) - Using "Next" Feature - Calculated Industries 3420 User Manual

Amortization List for Individual Year(s) — Using "Next" Feature
How much total interest and principal will you pay on a 30-year,
$90,000 loan at 8% interest during the first year? The second year?
Third year, etc.? First, find monthly payment to "set-up" this loan.
The calculator will automatically advance to the next year upon sub-
sequent presses of a.
Note: The mortgage interest tax deduction is based on the default tax bracket of 28%
unless you have changed it via s + .
STEPS
Clear calculator
Enter Loan Amount
Enter annual Interest rate
Enter Term in years
Find monthly Payment
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
Find Mortgage Interest
Tax deduction in Year 1
Display next year (Year 2) a
Find total Interest in Year 2 a
Find total Principal in Year 2 a
Find Prin./Interest in Year 2 a
Find Remaining Balance
Find Remaining Term
Find Mortgage Interest
Tax deduction in Year 2
Display next year (Year 3) a
(etc. — sequence repeats for each year)
KEYSTROKES
o o
9 0 ) l
8 ˆ
3 0 T
p
1 a
a
a
a
a
a
a
DISPLAY
90,000.00
30.00
"run" 660.39
"run" 1-12
7,172.83
751.83
7,924.66
89,248.17
29.00
2,008.39
"run" 13-24
7,110.43
814.23
7,924.66
88,433.94
28.00
1,990.92
"run" 25-36
U ' G — 63
SER S UIDE
0.00
8.00