Calculated-industries 43285 Manuel d'utilisateur télécharger pdf (Page 24)

Amortization & Remaining Balance

The amortization function is quick and simple. It allows you to

find total interest and principal (and remaining balance) for an

entire loan, for any individual payment or individual year, or any

range of payments or range of years, for fully or partially amor-

tized loans.

Notes on Amortization

1. When you enter a range of payments using the Colon [:]

key, you can find all three possible outputs — Interest,

Principal and Remaining Balance — without having to re-

enter the range each time.

2. You can also find Remaining Balance using the [Bal] key

by specifying a year or range of years, period or range of

periods. For example, to find the remaining balance after

the 10th year, you would press 10 [Bal]; to find the remain-

ing balance after the 10th period, you would press 10 [Per]

[Bal].

3. Entered ranges are inclusive, so that a range of 1 to 5

would include both year 1 and year 5.

4. Entering a numerical value or performing a math operation

on the keyboard will alter the values (including the default

settings) for range of payments calculations. It is always

best to specify a range of payments or individual payment

before you calculate any of the above.

5. In some cases, it is the practice to include a final, regular

P&I payment with the “balloon payment.” These calcula-

tors will not include that in its internal calculation of

remaining balance; it only displays the actual principal bal-

ance remaining.

6. If the first payment of a loan begins in a month other than

January, you can set that month by using the Month Offset

function. The default for this setting is 1 (for January). To

change the start month, press the month number, then the

23 – User’s Guide

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Calculated-industries 43285 Manuel d'utilisateur Page 24