Calculated Industries 3420 Pocket Reference Guide - Manual (Page 39)

P OCKET R EFERENCE G UIDE — 38
Estimated Tax Savings
• Loan: $150,000
• Buyer’s Tax Bracket: 28%
• Term: 30 years
• Interest: 6.75%
• Property Taxes: $1,500
• Property Insurance: $250
Note: This is an estimate only. Consult a tax
advisor.
What is this buyer’s estimated income tax
savings and “after tax” payment?
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter Term 3 0 T 30.00
Enter Interest 6 • 7 5 ˆ 6.75
Enter Tax$ 1 5 0 0 t 1,500.00
Enter Ins.$ 2 5 0 I 250.00
Enter loan 1 5 0 ) l
150,000.00
Find P&I Pmt. p “run” 972.90
PITI Payment p 1,118.73
Enter Tax
bracket 2 8 s p 28.00
Find annual Tax
savings p 3,241.32
Mo. Tax svgs. p 270.11
Net Payment p 848.62
3420PRG-E-A 7/2/04 9:07 AM Page 38