Calculated Industries 3400 - Manual (Page 7)

P OCKET R EFERENCE G UIDE - 5
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Monthly Payment
Find the monthly payment on a 30-year loan
of $220,000 at 7.5% annual interest rate.
KEYSTROKE DISPLAY
o o 0.00
2 2 0 0 0 0 l
220,000.00
7 • 5 ˆ 7.50
3 0 T 30.00
p 1,538.27
Term
How long does it take to pay off a loan of
$275,000 at 6.5% interest if you make
payments of $1,700 each month?
KEYSTROKE DISPLAY
o o 0.00
2 7 5 0 0 0 l
275,000.00
6 • 5 ˆ 6.50
1 7 0 0 p 1,700.00
T 32.23
LOAN EXAMPLES
(Cont’d)