Manual

42 — M ORTGAGE Q UALIFIER P LUS
®
P X2
(Cont’d)
7. A useful new feature is that your calculator will also display an
estimated Mortgage Interest Tax Deduction at the end of the
amortization value list (after remaining balance is displayed), if a
tax bracket is also entered via s p (Tax Brkt%).
Note: If a tax bracket % is not entered, the calculator will use the default tax
bracket of 21%, displayed upon ® s p .
8. Your calculator automatically advances to the Next Amortization
Range or Period after the initial sequence is complete, upon
repeated presses of a. This saves you from entering the next
range or period each time.
Total Principal/Total Interest for a 30-Year Loan
How much total interest will you pay on a $300,000 loan at 7.5%
interest over 30 years? What is the total amount paid?
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter loan amount 3 0 0 ) l 300,000.00
Enter interest 7 • 5 ˆ 7.50
Enter term 3 0 T 30.00
Find monthly payment p “run” 2,097.64
Find total # of payments a “run” 1-360
Find total interest paid a 455,151.67
Find total principal paid a 300,000.00
Find total principal/interest a 755,151.67