Calculated Industries 43285 User Manual

Calculated Industries 43285 User Manual Manual pdf 24 page image

Amortization & Remaining BalanceThe amortization function is quick and simple. It allows you tofind total interest and principal (and remaining balance) for anentire loan, for any individual payment or individual year, or anyrange of payments or range of years, for fully or partially amor-tized loans.Notes on Amortization1. When you enter a range of payments using the Colon [:]key, you can find all three possible outputs — Interest,Principal and Remaining Balance — without having to re-enter the range each time.2. You can also find Remaining Balance using the [Bal] keyby specifying a year or range of years, period or range ofperiods. For example, to find the remaining balance afterthe 10th year, you would press 10 [Bal]; to find the remain-ing balance after the 10th period, you would press 10 [Per][Bal].3. Entered ranges are inclusive, so that a range of 1 to 5would include both year 1 and year 5.4. Entering a numerical value or performing a math operationon the keyboard will alter the values (including the defaultsettings) for range of payments calculations. It is alwaysbest to specify a range of payments or individual paymentbefore you calculate any of the above.5. In some cases, it is the practice to include a final, regularP&I payment with the “balloon payment.” These calcula-tors will not include that in its internal calculation ofremaining balance; it only displays the actual principal bal-ance remaining.6. If the first payment of a loan begins in a month other thanJanuary, you can set that month by using the Month Offsetfunction. The default for this setting is 1 (for January). Tochange the start month, press the month number, then the23 – User’s Guide