P
OCKET
R
EFERENCE
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UIDE
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Bi-Weekly Mortgages
• Mortgage: $212,500
• Term: 25 years
• Int: 7.85%
Find Bi-Weekly term, savings, total cost
and Bi-Weekly payment:
STEPS
KEYSTROKES
DISPLAY
Clear
o o
0.00
Enter Mtg.
2 1 2 5 0 0 l
212,500.00
Enter Term
2 5 T
25.00
Enter Interest
7 • 8 5 ˆ
7.85
Find Payment
p
1,601.53
Find Bi-Weekly
Term
s T
20.14
Find total Interest
savings
T
61,224.88
Find total Interest
paid
T
206,735.29
Find total
Principal
T
212,500.00
Find total
Payments
T
419,235.29
Find Bi-Weekly
Payment
p
800.77
3420PRG-E-A 7/2/04 9:07 AM Page 23
