Estimated Tax Savings - Calculated Industries 3430 Pocket Reference Manual

Estimated Tax Savings

• Loan: $150,000
• Buyer's tax bracket: 28%
• Term: 30 years
• Interest: 8%
• Property taxes: $1,500
• Property insurance: $250
Note: This is an estimate only.
What is this buyer's estimated income tax
savings and "after tax" payment?
STEPS
Clear
Enter term
Enter interest 8 ˆ
Enter tax$
Enter insurance$
Enter loan
Find P&I pmt p
PITI payment p
Enter tax
bracket
Find annual tax
savings
Monthly tax
savings
Net payment
P
KEYSTROKES
o o
3 0 T
1 5 0 0 s 7 1,500.00
2 5 0 s 8
1 5 0 ) l
2 8 s p
p
p
p
R
OCKET EFERENCE
150,000.00
"run" 1,100.65
G — 21
UIDE
DISPLAY
0.00
30.00
8.00
250.00
1,246.48
28.00
3,767.32
313.94
932.54