User Manual

REGISTERS
n: N i: i
PV: Used
PMT: PMT
FV: 0
R
0
: N
R
1
: AIR R
2
: CL (%)
R
3
: Loan
R
4
: N/1200
R
5
: Used R
6
-R
9
: Unused
1. Key in the program.
2. Press
CLEAR .
3. Key in the number of monthly payments in the loan and press
0.
4. Key in the annual add-on interest rate as a percentage and press
1.
5. Key in the credit life as a percentage and press
2.
6. Key in the loan amount and press
3.
7. Press
to find the monthly payment amount.
8. Press
to obtain the amount of credit life.
9. Press
to calculate the total finance charge.
10. Press
to calculate the annual percentage rate.
11. For a new loan return to step 3.
Example 1: You wish to quote a loan on a $3100 balance, payable over 36
months at an add-on rate of 6.75%. Credit life (CL) is 1%. What are the monthly
payment amount, credit life amount, total finance charge, and APR?
Keystrokes Display
CLEAR
36
0
36.00 Months.
6.75 1
6.75 Add-on interest rate.
1 2
1.00 Credit life (%).
3100 3
3100.00 Loan.
-107.42 Monthly payment.
116.02 Credit life.