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Amortization List for a Range of Payments
For a $225,000, 30-year loan at 7.4% interest, find how much inter-
est and principal you'll pay in payments 1-9.
STEPS
KEYSTROKES
DISPLAY
Clear calculator
o o
0.00
Enter Loan Amount
2 2 5 ) l
225,000.00
Enter annual Interest rate
7 • 4 ˆ
7.40
Enter Term in years
3 0 T
30.00
Find monthly P&I Payment
p
“run” 1,557.85
Enter Payments #1-9
1 : 9 s b a
*
“run” 1-9
Find interest paid
a
12,449.13
Find principal paid
a
1,571.56
Total principal and interest
a
14,020.69
Find remaining balance
a
223,428.44
Find remaining term
a
29.25
Find mortgage interest deduction
for Payments #1-9
a
3,485.76
— DO NOT CLEAR CALCULATOR —
Amortization List for a Range of Years
Using the same values as the previous example, find how much
interest and principal you will pay in years 1-10.
STEPS
KEYSTROKES
DISPLAY
Enter Years #1-10
1 : 1 0 a
“run” 1-120
Find interest paid
a
156,798.68
Find principal paid
a
30,143.87
Total principal and interest
a
186,942.55
Find remaining balance
a
194,856.13
Find remaining term
a
20.00
Find mortgage interest deduction
for Years #1-10
a
43,903.63
*Note: For desktop model, press
π a
to perform this function.
