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Calculated Industries 3420 Pocket Reference Guide User Manual

Page 17

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P

OCKET

R

EFERENCE

G

UIDE

— 16

Interest Rate

Find the interest rate on a mortgage if the
mortgage amount is $155,500, term is 25
years and payment is $1,150 per month.

STEPS

KEYSTROKES

DISPLAY

Clear

o o

0.00

Enter Mortgage

1 5 5 5 0 0 l

155,500.00

Enter Term

2 5 T

25.00

Enter Payment

1 1 5 0 p

1,150.00

Find annual

Interest*

ˆ

7.63

Find periodic

Interest

ˆ

0.64

*Note: If desired, press

s 9

, then

ˆ

to

compute U.S. Interest (7.51%). Repeat this pro-
cedure to return to CDN mode. Display will read
“CDN” when calculating Canadian interest, and
“USA” when calculating U.S. rates.

3420PRG-E-A 7/2/04 9:07 AM Page 16