Calculated-industries 3401 Manuel d'utilisateur télécharger pdf (Page 8)

USER’S GUIDE - 6

Monthly Payment

Find the Monthly Payment on a 30-year loan

of $220,000 at 7.5% annual interest rate.

KEYSTROKE DISPLAY

o o 0.00

2 2 0 0 0 0 l 220,000.00

7 • 5 ˆ 7.50

3 0 T 30.00

p 1,538.27

Term

How long does it take to pay off a loan of

$275,000 at 6.5% interest if you make

payments of $1,700 each month?

KEYSTROKE DISPLAY

o o 0.00

2 7 5 0 0 0 l 275,000.00

6 • 5 ˆ 6.50

1 7 0 0 p 1,700.00

T 32.23

What is the Periodic term, or number of months?

KEYSTROKE DISPLAY

T 386.76

Interest Rate

Find the interest rate on a mortgage where

the loan amount is $155,000, term is 30

years and the Monthly Payment is $1,100.

LOAN EXAMPLES

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