P
OCKET
R
EFERENCE
G
UIDE
— 38
Estimated Tax Savings
• Loan: $150,000
• Buyer’s Tax Bracket: 28%
• Term: 30 years
• Interest: 6.75%
• Property Taxes: $1,500
• Property Insurance: $250
Note: This is an estimate only. Consult a tax
advisor.
What is this buyer’s estimated income tax
savings and “after tax” payment?
STEPS
KEYSTROKES
DISPLAY
Clear
o o
0.00
Enter Term
3 0 T
30.00
Enter Interest
6 • 7 5 ˆ
6.75
Enter Tax$
1 5 0 0 t
1,500.00
Enter Ins.$
2 5 0 I
250.00
Enter loan
1 5 0 ) l
150,000.00
Find P&I Pmt.
p
“run” 972.90
PITI Payment
p
1,118.73
Enter Tax
bracket
2 8 s p
28.00
Find annual Tax
savings
p
3,241.32
Mo. Tax svgs.
p
270.11
Net Payment
p
848.62
3420PRG-E-A 7/2/04 9:07 AM Page 38
