62 — Q
UALIFIER
P
LUS
®
4
X
Amortization List for Individual Year(s) —
Using “Next” Feature
How much total interest and principal will you pay on a 30-year,
$90,000 loan at 8% interest during the first year? The second year?
Third year, etc.? First, find monthly payment to “set-up” this loan.
The calculator will automatically advance to the next year upon sub-
sequent presses of
a
.
STEPS
KEYSTROKES
DISPLAY
Clear calculator
o o
0.00
Enter Loan Amount
9 0 ) l
90,000.00
Enter annual Interest rate
8 ˆ
8.00
Enter Term in years
3 0 T
30.00
Find monthly P&I Payment
p
“run” 660.39
Enter Year 1
1 a
“run” 1-12
Find total interest in Year 1
a
7,172.83
Find total principal in Year 1
a
751.83
Find P&I in Year 1
a
7,924.66
Find remaining balance
a
89,248.17
Find remaining term
a
29.00
Display next year (Year 2)
a
“run” 13-24
Find total interest in Year 2
a
7,110.43
Find total principal in Year 2
a
814.23
Find P&I in Year 2
a
7,924.66
Find remaining balance
a
88,433.94
Find remaining term
a
28.00
Display next year (Year 3)
a
“run” 25-36
(etc. — sequence repeats for each year)