Using Month Offset to Calculate Total
Principal & Interest for One Year
Your first loan payment begins in May.
How much total interest and total princi-
pal will you pay on a 25 year, $90,000
loan at 8% interest during the first year?
(First find the monthly payment to “set
up” this loan.)
Steps/Keystrokes
Display
1. Clear calculator:
[On/C] [On/C]
0.00
2. Set Month Offset to May:
5 [Set] [:]
5.00
3. Enter loan amount, interest and term,
then find the monthly payment:
90,000 [L/A]
90,000.00
8 [Int]
CdA 8.00
25 [Term]
25.00
[Pmt] “run”
686.89
4. Enter Year 1 and find the total interest
and total principal in Year 1:
1 [Amort] “run”
1-8
[Amort]
4,703.92
[Amort]
791.22
Note:
Return your Month Offset to 1 by
turning your calculator off then on, or by
pressing
1 [Set] [:]
. Display the Month
Offset by pressing
[Rcl] [:]
.
User’s Guide — 29
