Calculated Industries 3420 Pocket Reference Guide - Manual (Page 23)

P OCKET R EFERENCE G UIDE — 22
Amortization (Total Principal / Total
Interest, Remaining Balance)
• Mortgage: $175,000
• Term: 25 years
• Interest: 7.5%
Note: See large User’s Guide for more examples.
Find total interest, principal and total pay-
ments. Then, find the remaining balance
after 10 years.
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter Mtg. 1 7 5 ) l
175,000.00
Enter Term 2 5 T 25.00
Enter Interest 7 • 5 ˆ 7.50
Find Payment p 1,280.22
Find # Pmts. a 1-300
Find ttl. Int. a 209,066.33
Find ttl. Prin. a 175,000.00
Find ttl. Pmts a 384,066.33
Find balance 1 0 s a
139,076.82
3420PRG-E-A 7/2/04 9:07 AM Page 22