P
ocket
R
efeRence
G
uide
— 11
What is the periodic interest?
KEYSTROKE
DiSPLAY
I
0.64
Loan Amount
How much can you borrow if the interest
rate is 7.75% on a 30-year mortgage and
you can afford to pay $1,200 each month?
KEYSTROKE
DiSPLAY
O O
0.00
7 . 7 5 I
7.75
3 0 T
30.00
1 2 0 0 P
1,200.00
L
167,501.32
interest–Only Payment
(Calculation)
Find the interest-only payment on a loan of
$15,000 at 9% interest.
KEYSTROKE
DiSPLAY
O O
0.00
1 5 0 0 0 L
15,000.00
9 I
9.00
s P
112.50
(cont'd)
(cont'd)
interest–Only Payment (Entry)
How much can you borrow if the interest
rate is 7% on a 30-year interest–only mort-
gage and you can afford to pay $1,000
each month?
KEYSTROKE
DiSPLAY
O O
0.00
7 I
7.00
1 0 0 0 s P
1000.00
L
171,428.57
Quarterly Payment
Find the quarterly payment on a 10-year
loan of $15,000 at 10% annual interest
rate.
KEYSTROKE
DiSPLAY
O O
0.00
4 s ,
4.00
1 0 T
10.00
P
597.54
1 2 s ,
(return to 12 pmts/yr)
12.00
Amortization-Total interest and
Principal Paid
How much interest, principal and total
payments will you pay on a 30-year,
$180,000 loan at 7% interest?
PRG3400E-D.indd 11
1/17/2011 9:41:24 AM
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