Finding the Interest Rate of a Loan
Find the interest rate on a $98,500 mort-
gage with a 30 year term and a monthly
payment of $1,150.
Steps/Keystrokes
Display
1. Clear calculator:
[On/C] [On/C]
0.00
2. Enter loan amount, term, monthly pay-
ment and find annual interest and peri-
odic rate:
98,500 [L/A]
98,500.00
30 [Term]
30.00
1,150 [Pmt]
1,150.00
[Int]
“run”
13.78
[Int]
1.15
Finding a Loan Amount
How much can you borrow if the cur-
rent interest rate is 9.75% on a 30 year
term and you can pay $950 each month?
Steps/Keystrokes
Display
1. Clear calculator:
[On/C] [On/C]
0.00
2. Enter interest, term and monthly pay-
ment. Then find loan amount:
9.75 [Int]
9.75
30 [Term]
30.00
950 [Pmt]
950.00
[L/A]
“run”
110,573.84
User’s Guide — 17
