P
OCKET
R
EFERENCE
G
UIDE
— 17
Amortization
• Loan: $300,000
• Term: 30 years
• Interest: 7.5%
Find total interest and principal for the life
of the loan:
STEPS
KEYSTROKES
DISPLAY
Clear
o o
0.00
Enter loan
3 0 0 ) l
300,000.00
Enter interest
7 • 5 ˆ
7.50
Enter term
3 0 T
30.00
Find P&I pmt
p
2,097.64
Find # pmts
a
1-360
Find total int.
a
455,151.67
Find total prin.
a
300,000.00
Find total pmts
a
755,151.67
Find all values for the first year:
Enter Year 1
1 a
1-12
Find total int.
a
22,406.22
Find total prin.
a
2,765.50
Find total pmts
a
25,171.72
Find balance
a
297,234.50
Remaining term
a
29.00
Tax deduction
a
4,705.31
Note: Based on default 21% tax bracket & loan
start in January. To change these values, see
Large User’s Guide.
