User Manual

8. Key in the loan amount and press 0 to obtain the monthly payment
amount when the payment is made at the end of the month.
9. Press
0 1 .
10. Key in the annual interest rate as a percent and press
to find the monthly
payment amount when the payment is made at the beginning of the month.
Example: A bulldozer worth $100,000 is being purchased in September. The first
payment is due one month later, and payments will continue over a period of 5
years. Due to the weather, the machinery will not be used during the winter
months, and the purchaser does not wish to make payments during January,
February, and March (months 4 thru 6). If the current interest rate is 14%, what is
the monthly payment necessary to amortize the loan?
Keystrokes Display
CLEAR
3
3.00
Number of payment made before a group of
payments is skipped.
14
1
12
0
0
3
1
0
0
0
12
100
CLEAR
5
100000
0
3,119.98 Monthly payment in arrears.