Monroe Classic User Manual page 27

Enter
600
In the above example, the number of months was calculated to be 431. To determine the
number of years, the # of Months key was followed by the depression of the x/12 key.
Let us say we could pay a little more than the $600 per month, if we could pay the loan off in a
somewhat shorter period of time.
Enter
360
To determine the amount one can afford to borrow, based upon a comfortable payment amount, term
and interest rate, we could solve for Amount.
How much can I borrow, if I were able to afford $1,000 per month, paying 6.5% Interest annually over a
15 year period?
Enter
180
1000
Press
Payment
Compute
# of Months
X/12
Press
# of Months
Compute
Payment
Press
# of Months
Payment
Compute
Amount
Display
600.00
431
35.917
Display
360.00
632.07
Display
180.00
1,000.00
114,796.41
Print
600.00
...........................
# 431
...........................
35.917
Print
# 360.00
.........................
632.07
.........................
Print
# 180.00
1,000.00
.........................
114,796.41
.........................