Calculated Industries 3423 - Manual (Page 32)

P
OCKET
R
EFERENCE
G
UIDE
— 28
IMPORTANT: Your calculator must be in
U.S. Mode by pressing
s + .
Monthly Loan Payment
Find the monthly payment on a 30-year
loan of $215,000 at 7.5% interest.
STEPS KEYSTROKES DISPLAY
Set US Mode s + INT USA
Clear o o 0.00
Enter Loan 2 1 5 ) l
215,000.00
Enter Term 3 0 T 30.00
Enter Interest 7 • 5 ˆ 7.50
Find Payment p 1,503.31
Interest – Only Payment (Entry)
How much can you borrow if the interest rate
is 7% on a 30-year interest–only mortgage
and you can afford to pay $1,000 each
month?
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter Interest 7 ˆ 7.00
Enter Payment 1 ) s p 1000.00
Find Loan l 171,428.57
EXAMPLES — U.S. MODE