P
OCKET
R
EFERENCE
G
UIDE
— 10
Term of a Loan
How long does it take to pay off a loan of
$15,000 at 10% interest if you make pay-
ments of $200 each month?
STEPS
KEYSTROKES
DISPLAY
Clear
o o
0.00
Enter loan
1 5 ) l
15,000.00
Enter interest
1 0 ˆ
10.00
Enter payment
2 0 0 p
200.00
Find term in
years
T
9.85
Number of
months
T
118.19
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