U
SER’S GUIDE — 43
(Cont’d)
Now Solve for the Bi-Weekly Loan and Compare Interest Savings
and Total Interest/Principal Paid:
STEPS KEYSTROKES DISPLAY
Find Bi-Weekly Term s T “run” 24.60
Find total interest savings T 65,430.46*
Find total interest paid T 245,508.33
Find total principal T 275,000.00
Find total principal and
interest T 520,508.33
Find Bi-Weekly P&I Payment
p 813.80
Clear calculator** o o 0.00
*Notice you save a significant amount (over $65K in this example) with a Bi-Weekly.
**Note
: Return to monthly payment mode by pressing o twice.
Future Value
Given any four components to a problem that includes a future
value, you can calculate the fifth.
Appreciation / Future Value
You purchased a home for $350,000 and want to know what it will
be worth in 3 years, figuring an inflation or appreciation rate of 6%.
(Set to one payment period per year.)
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Set to 1 payment per year 1 s ÷ 1.00
Enter present value 3 5 0 ) l 350,000.00
Enter term in years 3 T 3.00
Enter appreciation rate 6 ˆ 6.00
Find future value s l “run” 416,855.60
Return to 12 payments per
year 1 2 s ÷ 12.00
*Calculations must be set to default of 12 periods per year, for compounding monthly.
If it isn’t, enter 1 2 s ÷.
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