User Manual

P OCKET R EFERENCE G UIDE - 8
Amortization-Total Interest and Principal
Paid
How much interest, principal and total pay-
ments will you pay on a 30-year, $180,000
loan at 7% interest?
KEYSTROKE DISPLAY
o o 0.00
1 8 0 0 0 0
l 180,000.00
7 ˆ 7.00
3 0 T 30.00
p 1,197.54
a
(range of payments) 1-360
a
(total interest) 251,116.02
a
(total principal) 180,000.00
a
(total payments) 431,116.02
Total Interest and Principal - for Range of
Payments
How much total interest and principal will you
pay in payments 1-5 on a 30-year, $100,000
loan at 7% interest?
KEYSTROKE DISPLAY
o o 0.00
1 0 0 0 0 0
l 100,000.00
7 ˆ 7.00
3 0 T 30.00
p 665.30
5 s + a
(range of payments) 1-5
a
(total interest) 2,911.86
a
(total principal) 414.66
a
(total payments) 3,326.51