Monroe PRO User Manual download pdf (Page 18)

Solve for Interest Rate

Assume you wish to borrow $250,000, over a 180 month (15 year) period and you can afford to pay $2,109.64 per

month. What interest rate do you need under this scenario?

Enter Press Display Print

250000 250,000

PV 250,000.00 250,000.00 IV

2109.64 2,109.64

PMT 2,109.64 2,109.64 P

180 180

TERM 180.00 180.00 M

RATE CALCULATE

6.00 6.00 %

Amortization

Calculate a payment and print amortization schedule. $100,000 loan, 6.5% Interest Rate compounded monthly, 15

year (180 months) Term.

Enter Press Display Print

100,000 100,000

PV 100,000.00 100,000 IV

6.5 6.5

RATE 6.50 6.50 %

180 180

TERM 180.00 180.00 M

PMT 871.11 871.11 P

AMORTIZE # 1

(Payment) 871.11 P

(Pmt. Portion to Interest) 541.67 I-

(Pmt. Portion to Principal) 329.44 -P

(Remaining Principal) 99,670.56 RP

(Cummulative Interest) 541.67 I*

……………………

# 2

871.11 P

539.88 I-

331.23 -P

99,339.33 RP

1,081.55 I*

……………………

# 3

871.11 P

538.09 I-

333.02 -P

99,006.31 RP

1,619.64 I*

…………………….

(etc. now pmt 13) (this will continue until Pmt number 180 prints ) # 13

871.11 P

519.60 I-

351.50 -P

95,575.28 RP

6,899.68 I*

In the example above, the Amortize key was pressed when no live entry existed. This will cause the entire

amortization schedule to print.

1 2 ... 13 14 15 16 17 18 19 20 21 22 23 24 25

Comments to this Manuals

No comments

Monroe PRO User Manual Page 18

Comments to this Manuals

Related products and manuals for Water pumps Monroe PRO