Owner manual

POCKET REFERENCE GUIDE — 19
Amortization (Total Principal/
Total Interest, Remaining Balance)
• Mortgage: $175,000
• Term: 25 years
• Interest: 7.5%
Note: See large User’s Guide for more examples.
Find total interest, principal and total pay-
ments. Then, find the remaining balance
after ten years.
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter Mortgage 1 7 5 ) l
175,000.00
Enter Term 2 5 T 25.00
Enter Interest 7 • 5 ˆ 7.50
Find Payment p 1,280.22
Find # pmts. a 1-300
Find ttl. int. a 209,066.33
Find ttl. prin. a 175,000.00
Find ttl. pmts a 384,066.33
Find balance 1 0 s a
139,076.82
Note: If Canadian Mortgage Insurance (Cdn MI)
is entered, payment, total interest, total principal,
total payments, and remaining balance values
will be based on the loan amount (incuding mort-
gage insurance).