37
8. Key in the loan amount and press 0 to obtain the
monthly payment amount when the payment is made at the end of the
month.
9. Press 0 1 .
10. Key in the annual interest rate as a percent and press to
find the monthly payment amount when the payment is made at the
beginning of the month.
Example: A bulldozer worth $100,000 is being purchased in September.
The first payment is due one month later, and payments will continue over
a period of 5 years. Due to the weather, the machinery will not be used
during the winter months, and the purchaser does not wish to make
payments during January, February, and March (months 4 thru 6). If the
current interest rate is 14%, what is the monthly payment necessary to
amortize the loan?
Keystrokes Display
CLEAR
3
3.00
Number of payment made before a
group of payments is skipped.
14
1
12
0 0
3
1 0
0
0 12
100
CLEAR
5 100000
0
3,119.98 Monthly payment in arrears.
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