Calculated Industries 3430 - Term of a Loan

P
OCKET REFERENCE GUIDE — 10
Term of a Loan
How long does it take to pay off a loan of
$15,000 at 10% interest if you make pay-
ments of $200 each month?
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter loan 1 5 ) l 15,000.00
Enter interest 1 0 ˆ 10.00
Enter payment 2 0 0 p 200.00
Find term in
years T 9.85
Number of
months T 118.19