Calculated Industries 3125 - Manual (Page 33)

Balloon Payment/Remaining Balance Needed
to Pay Off a Loan
You are looking at a new home with the
following financing available: Loan
amount $125,000 at 8.75% amortized
over 30 years but due and payable after
10 years. What is the balloon payment
(remaining balance) after 10 years?
Steps/Keystrokes Display
1. Clear calculator:
[On/C] [On/C] 0.00
2. Enter the loan amount:
125,000 [L/A] 125,000.00
3. Enter interest, term then find monthly
payment:
8.75 [Int]
8.75
30 [Term] 30.00
[Pmt] “run” 983.38
4. Find balloon/remaining balance after 10
years:
10 [Set] [Amort]
“run” 111,277.99
User’s Guide — 33