Calculated Industries 3416 Pocket Reference Guide - Manual (Page 21)

P
OCKET
R
EFERENCE
G
UIDE
— 17
Amortization
• Loan: $300,000
• Term: 30 years
• Interest: 7.5%
Find total interest and principal for the life
of the loan:
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter loan 3 0 0 ) l
300,000.00
Enter interest 7 • 5 ˆ 7.50
Enter term 3 0 T 30.00
Find P&I pmt p 2,097.64
Find # pmts a 1-360
Find total int. a 455,151.67
Find total prin. a 300,000.00
Find total pmts a 755,151.67
Find all values for the first year:
Enter Year 1 1 a 1-12
Find total int. a 22,406.22
Find total prin. a 2,765.50
Find total pmts a 25,171.72
Find balance a 297,234.50
Remaining term a 29.00
Tax deduction a 4,705.31
Note: Based on default 21% tax bracket & loan
start in January. To change these values, see
Large User’s Guide.