USER’S GUIDE — 43Amortization List for Individual Payment(s)For a $175,000 loan at 6.85% interest for 30 years, find out howmuch interest and how much principal you’ll pay in the first and sec-ond payments.Note: Use the s bkeys to label the payments.STEPS KEYSTROKES DISPLAYClear calculator o o 0.00Enter loan amount 1 7 5 ) l 175,000.00Enter interest 6 • 8 5 ˆ 6.85Enter term 3 0 T 30.00Find monthly payment p “run” 1,146.70*Enter Payment #1 1 s b a “run” 1-1Find interest in Payment #1 a 998.96Find principal in Payment #1 a 147.75Find principal/interest inPayment #1 a 1,146.70Find remaining balance inPayment #1 a 174,852.25Find remaining term inPayment #1 a 29.92Find mortgage interestdeduction in Payment #1 a 209.78Display Payment #2 a “run” 2-2(etc.—sequence repeats for each payment)— DO NOT CLEAR CALCULATOR —For the same loan, find the amount of principal and interest paid inthe 36th payment. Also, find the total payment, remaining balanceand remaining term.STEPS KEYSTROKES DISPLAYEnter Payment #36 3 6 s b a “run” 36-36Find interest in Payment #36 a 966.39Find principal inPayment #36 a 180.32Find principal/interestPayment #36 a 1,146.70*Find remaining balance a 169,113.79Find remaining term a 27.00*Note: Payments are rounded to the nearest whole cent; therefore, the penny difference.
