Calculated Industries 3400 - Manual (Page 11)

Total Interest, Principal and Remaining
Balance - for Range of Years
How much total interest and principal will you
pay in years 1-5 on a 30-year, $100,000 loan
at 7% interest? What is the remaining bal-
ance after payments 1-36?
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 a (range of payments) 1-60
a (total interest) 34,049.74
a (total principal) 5,868.41
a (total payments) 39,918.15
a (remaining balance) 94,131.59
Note: Any number entered into a that is higher than
the term will be considered periodic rather than annual.
Balloon Payment/Remaining Balance
Find remaining balance after 10 years on
a 30-year, $300,000 loan at 7.5% interest.
KEYSTROKES DISPLAY
o o 0.00
3 0 0 0 0 0 l
300,000.00
7 • 5 ˆ 7.50
3 0 T 30.00
p 2,097.64
1 0 s a 260,384.96
P OCKET R EFERENCE G UIDE - 9