Amortization List For Individual Payment(S) - Calculated Industries 3430 User Manual

Amortization List for Individual Payment(s)

For a $175,000 loan at 6.85% interest for 30 years, find out how
much interest and how much principal you'll pay in the first and sec-
ond payments.
Note: Use the s b keys to specify payments (periods).
STEPS
Clear calculator
Enter Loan Amount
Enter annual Interest rate
Enter Term in years
Find monthly P&I Payment p
Enter Payment #1
Find interest in Payment #1 a
Find principal in Payment #1 a
Find P & I in Payment #1
Find remaining balance after
Payment #1
Find remaining term after
Payment #1
Find mortgage interest deduction
in Payment #1
Display Payment #2
(etc. — sequence repeats for each payment)
For the same loan, find the amount of principal and interest paid in
the 36th payment. Also, find the total payment, remaining balance
and remaining term.
STEPS
Enter Payment #36
Find interest in Payment #36 a
Find principal in Payment
#36
Find P & I in Payment #36 a
Find remaining balance after
Payment #36
Find remaining term after
Payment #36
*Note: Payments are rounded to the nearest whole cent; therefore, the penny difference.
**Note: For desktop model, press π a to perform this function.
40 — Q
UALIFIER
KEYSTROKES
o o
1 7 5 ) l
6 • 8 5 ˆ
3 0 T
1 s b a**
a
a
a
a
a
— DO NOT CLEAR CALCULATOR —
KEYSTROKES
3 6 s b a**
a
a
a
P ® III
LUS FX
DISPLAY
0.00
175,000.00
6.85
30.00
"run" 1,146.70*
"run" 1-1
998.96
147.75
1,146.70
174,852.25
29.92
279.71
"run" 2-2
DISPLAY
"run" 36-36
966.39
180.32
1,146.70*
169,113.79
27.00