Calculated Industries 43285 - Manual (Page 26)

Total Principal & Interest for an Individual Year using Month Offset
The first payment of a loan begins in May. How much total
interest and total principal will you pay on a 30-year, $90,000
loan at 8% interest during the first year? The second year?
(First find monthly payment to “set-up” this loan.)
Steps Keystrokes Display
Clear calculator [On/C] [On/C] 0.00
Set Month Offset to May 5 [Set] [:] 5.00
Enter loan amount 90,000 [L/A] 90,000.00
Enter interest 8 [Int] 8.00
Enter term 30 [Term] 30.00
Find monthly payment [Pmt] “run” 660.39
Enter Yr. 1 1 [Amort] “run” 1-8
Find total interest in Yr. 1 [Amort] 4,788.58
Find total principal in Yr. 1 [Amort] 494.53
Enter Yr. 2 2 [Amort] “run” 9-20
Find total interest in Yr. 2 [Amort] 7,131.78
Find total principal in Yr. 2 [Amort] 792.87
Note: Remember to return your Month Offset to 1 by either turning
your calculator off then back on, or by resetting (1 [Set] [:]). Check
Month Offset setting by pressing [Rcl] [:].
25 – User’s Guide