36 — Q
UALIFIER
P
LUS
®
4
X
Amortization List for a Range of Payments or Years
For a $225,000, 25-year mortgage at 7.4% interest, find out how
much interest and principal you'll pay in payments 1-9, and then for
years 1-10.
STEPS
KEYSTROKES
DISPLAY
Clear calculator
o o
0.00
Enter Mortgage Amount
2 2 5 ) l
225,000.00
Enter annual Interest rate
7 • 4 ˆ
7.40
Enter Term in years
2 5 T
25.00
Find monthly P&I Payment
p
“run” 1,631.89
Enter Payments #1-9
1 : 9 s b a
“run” 1-9
Find interest paid
a
12,240.39
Find principal paid
a
2,446.63
Find P&I paid
a
14,687.01
Find remaining balance
a
222,553.37
Find remaining term
a
24.25
Enter Years #1-10
1 : 1 0 a
“run” 1-120
Find interest
a
149,169.59
Find principal
a
46,657.27
Find P&I paid
a
195,826.85
Find remaining balance
a
178,342.73
Find remaining term
a
15.00
Balloon Payment / Remaining Balance Needed to Pay Off
a Mortgage
You’re looking at a new home with the following financing available:
mortgage amount $225,000 at 6.75% amortized over 25 years but
due and payable after 10 years. What is the balloon payment
(remaining balance) after 10 years?
STEPS
KEYSTROKES
DISPLAY
Clear calculator
o o
0.00
Enter Mortgage Amount
2 2 5 ) l
225,000.00
Enter Interest rate
6 • 7 5 ˆ
6.75
Enter annual Term in years
2 5 T
30.00
Find monthly P&I Payment
p
“run” 1,541.36
Find balloon/remaining
balance after 10 years
1 0 s a
“run” 175,202.35
