P
OCKET REFERENCE GUIDE — 21
Estimated Tax Savings
• Loan: $150,000
• Buyer’s tax bracket: 28%
• Term: 30 years
• Interest: 8%
• Property taxes: $1,500
• Property insurance: $250
Note: This is an estimate only.
What is this buyer’s estimated income tax
savings and “after tax” payment?
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter term 3 0 T 30.00
Enter interest 8 ˆ 8.00
Enter tax$ 1 5 0 0 s 7 1,500.00
Enter insurance$
2 5 0 s 8 250.00
Enter loan 1 5 0 ) l
150,000.00
Find P&I pmt p “run” 1,100.65
PITI payment p 1,246.48
Enter tax
bracket 2 8 s p 28.00
Find annual tax
savings p 3,767.32
Monthly tax
savings p 313.94
Net payment p 932.54
To Next Page
Loading...
Need help?
General
