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Finding Sales Price and Payment Based on Loan Amount and
Down Payment
Find a home’s sales price if you've been approved for a $200,000,
30-year, 7.5% mortgage and you plan to put 20% down. Also find
your monthly payment.
STEPS
KEYSTROKES
DISPLAY
Clear calculator
o o
0.00
Enter Loan Amount
2 0 0 ) l
200,000.00
Enter Term in years
3 0 T
30.00
Enter annual Interest rate
7 • 5 ˆ
7.50
Enter Down Payment %
2 0 d
20.00
Find sales Price
P
250,000.00
Find monthly P&I Payment
p
“run” 1,398.43
Total Principal and Interest for a 30-Year Loan
How much total interest will you pay on a $300,000 loan at 7.5%
interest over 30 years? What is the total principal and interest paid?
STEPS
KEYSTROKES
DISPLAY
Clear calculator
o o
0.00
Enter Loan Amount
3 0 0 ) l
300,000.00
Enter annual Interest rate
7 • 5 ˆ
7.50
Enter Term in years
3 0 T
30.00
Find monthly P&I Payment
p
“run” 2,097.64
Find total # of Payments
a
“run” 1-360
Find total Interest paid
a
455,151.67
Find total Principal paid
a
300,000.00
Find total Principal/Interest
a
755,151.67
