Total Principal And Interest For A 30-Year Loan; Balloon Payment/Remaining Balance Needed To Pay Off A Loan - Calculated Industries 3430 User Manual

Total Principal and Interest for a 30-Year Loan

How much total interest will you pay on a $300,000 loan at 7.5%
interest over 30 years? What is the total principal and interest paid?
STEPS
Clear calculator
Enter Loan Amount
Enter annual Interest rate
Enter Term in years
Find monthly P&I Payment p
Find total # of payments
Find total interest paid
Find total principal paid
Find total principal/interest a

Balloon Payment/Remaining Balance Needed to Pay Off a Loan

You're looking at a new home with the following financing available:
Loan amount $225,000 at 6.75% amortized over 30 years but due
and payable after 10 years. What is the balloon payment (remaining
balance) after 10 years?
STEPS
Clear calculator
Enter Loan Amount
Enter annual Interest rate
Enter Term in years
Find monthly P&I Payment p
Find balloon/remaining
balance after 10 years
KEYSTROKES
o o
3 0 0 ) l
7 • 5 ˆ
3 0 T
a
a
a
KEYSTROKES
o o
2 2 5 ) l
6 • 7 5 ˆ
3 0 T
1 0 s a
DISPLAY
300,000.00
30.00
"run" 2,097.64
"run" 1-360
455,151.67
300,000.00
755,151.67
DISPLAY
225,000.00
30.00
"run" 1,459.35
"run" 191,927.25
U ' G — 37
SER S UIDE
0.00
7.50
0.00
6.75