[Set] and [:] keys. This allows you to calculate the correct
number of periods in the amortization range. For example,
if the first payment of a loan begins in April, the value
stored in the month offset would be 4 (4 [Set] [:]). If
requesting amortization values for year 1 (1 [Amort]), the
amortization of periods 1-9 would be displayed. Year 2 (2
[Amort]) would display values for periods 10-21. Turning
your calculator off and back on returns the Month Offset
to one (January).
Note: If you have changed your Month Offset, be sure to return it to
1 (i.e., 1 [Set] [:] or [Off]) before proceeding to the next problem.
Total Principal/Total Interest for a Loan
How much total interest will you pay on a $200,000 loan at
9.25% interest over 30 years?
Steps
Keystrokes
Display
Turn calc. off then back on [Off] [On/C]
0.00
Enter loan amount
200,000 [L/A]
200,000.00
Enter interest
9.25 [Int]
9.25
Enter term
30 [Term]
30.00
Find monthly payment
[Pmt]
“run” 1,645.35
Find total number of pmts
[Amort]
“run” 1-360
Find total interest paid
[Amort]
392,326.31
Find total principal paid
[Amort]
200,000.00
24 – Qualifier Plus
®
IIx DT
