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Examples – Calculated Industries 3416 Pocket Reference Guide User Manual

Page 10

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P

OCKET

R

EFERENCE

G

UIDE

— 6

Monthly Mortgage (P&I) Payment

Find the monthly (P&I) payment on a 30-
year, fixed-rate loan of $265,000 at 6.75%
annual interest:

STEPS

KEYSTROKES

DISPLAY

Clear

o o

0.00

Enter loan

2 6 5 ) l

265,000.00

Enter term

3 0 T

30.00

Enter interest

6 • 7 5 ˆ

6.75

Find payment

p

1,718.78

Interest – Only Payment (Calculation)

Find the interest-only payment on a loan
of $15,000 at 9% interest.

STEPS

KEYSTROKES

DISPLAY

Clear

o o

0.00

Enter Loan

1 5 ) l

15,000.00

Enter Interest

9 ˆ

7.00

Find payment

s p

112.50

EXAMPLES