Calculated-industries 3420 User Guide Manual do Utilizador descarregar pdf (Página 37)

36 — Q

UALIFIER

LUS

III

(Cont’d)

Note: If you have changed your Month Offset, be sure to return it to 1 (i.e.,

s )

) before proceeding to the next problem.

(U.S. Mode Only)

A useful new feature is that your calculator

will also display an estimated Mortgage Interest Tax Deduction

at the end of the amortization value list (after remaining balance

is displayed), if a tax bracket is also entered via s +

(Tax

Brkt%)

Note: If a tax bracket % is not entered, the calculator will use the default of 28%,

displayed upon

® +

8. Your calculator automatically advances to the Next Amortization

Range or Period after the initial sequence is complete, upon

repeated presses of a.

This saves you from entering the next

range or period each time.

Total Principal and Interest for a 25-Year Mortgage

How much total interest will you pay on a $200,000 mortgage at

7.5% interest over 25 years? What is the total principal and interest

paid?

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Mortgage Amount 2 0 0 ) l 200,000.00

Enter Interest 7 • 5 ˆ 7.50

Enter Term 2 5 T 25.00

Find monthly P&I Payment p “run” 1,463.11

Find total # of Payments a “run” 1-300

Find total Interest paid a 238,932.95

Find total Principal paid a 200,000.00

Find total Principal/Interest a 438,932.95

3420UG-E-A 7/2/04 9:06 AM Page 36

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Calculated-industries 3420 User Guide Manual do Utilizador Página 37