Calculated Industries 3401 - Manual (Page 11)

KEYSTROKE DISPLAY
o o 0.00
1 8 0 0 0 0 l 180,000.00
7 ˆ
7.00
3 0 T
30.00
p
1,197.54
a (Range of Payments) 1-360
a (Total Interest) 251,116.02
a (Total Principal) 180,000.00
a (Total Payments) 431,116.02
Total Interest, Principal and Remaining
Balance - for Range of Payments
How much Total Interest and Principal will
you pay in payments 1-5 on a 30-year,
$100,000 loan at 7% interest? What is the
Remaining Balance?
KEYSTROKE DISPLAY
o o
0.00
1 0 0 0 0 0 l
100,000.00
7 ˆ 7.00
3 0 T 30.00
p 665.30
5 s + a (Range of Payments) 1-5
a (Total Interest) 2,911.86
a (Total Principal) 414.66
a (Total Payments) 3,326.51
a (Remaining Balance) 99,585.34
U
SER
’
S
G
UIDE
- 9