Calculated-industries 3420 User Guide Manual de usuario descargar pdf (Pagina 29)

28 — Q

UALIFIER

LUS

III

Finding the Mortgage Amount

Approximately how much could you borrow if the interest rate was

7.8% on a 25-year mortgage, and you could afford $1,500 in month-

ly payments? What if the interest rate was lowered to 7.5%?

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Interest 7 • 8 ˆ 7.80

Enter Term 2 5 T 25.00

Enter monthly P&I Payment 1 5 0 0 p 1,500.00

Find Mortgage l “run” 199,869.55

Enter new Interest rate 7 • 5 ˆ 7.50

Find new Mortgage l “run” 205,042.71

Non-Monthly Loans

Most mortgages are paid off monthly. However, if you have a non-

monthly loan, you must change the number of payments per year

using a two-key sequence: s ÷. For example, here's how to set

your calculator to four payments per year.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter # of Payments/year 4 s ÷ 4.00

To recall the currently stored number of payments:

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Recall # of Payments/year ® ÷ 4.00

IMPORTANT:

To return payments per year to the default value of

12, perform the following steps:

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter # of Payments/year 1 2 s ÷ 12.00

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Calculated-industries 3420 User Guide Manual de usuario Pagina 29