Calculated Industries 3405 - Balloon Payment;Remaining Balance

POCKET REFERENCE GUIDE — 28
Balloon Payment/Remaining Balance
• Loan: $300,000
• Term: 30 years
• Interest: 7.5%
Find remaining balance after 10 years:
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter loan 3 0 0 ) l
300,000.00
Enter interest 7 • 5 ˆ 7.50
Enter term 3 0 T 30.00
Find payment p 2,097.64
Find balloon payment, or remaining
balance 1 0 s a
260,384.96
3405PRG-E-B 1/9/04 8:45 AM Page 28