Calculated-industries 3430 User Guide Manual de usuario descargar pdf (Pagina 53)

52 — Q

UALIFIER PLUS

III

ARM Payment — Worst-Case Scenario

Find the initial monthly P&I payment on a 30-year, $176,000 mortgage

at 8.25% annual interest rate, and then find the second and third

year's “worst-case” adjusted payments if this ARM loan increases

1% at the end of each year. Then, find the remaining loan balance,

current interest rate and remaining term.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Loan Amount 1 7 6 ) l 176,000.00

Enter Term in years 3 0 T 30.00

Enter annual Interest rate 8 • 2 5 ˆ 8.25

Find initial monthly P&I

Payment (1st year) p “run” 1,322.23

Enter ARM parameters 1 : 1 A 1.00 - 1.00

Find 1st adjusted (2nd year)

ARM payment A 1 ARM 1,445.79

Find 2nd adjusted (3rd year)

ARM payment A 2 ARM 1,570.86*

Find principal at start of

3rd year ® l 173,350.16

Find current Interest rate ® ˆ 10.25

Find remaining Term ® T 28.00

*Note: You may continue pressing A to find the 4th, 5th year, etc. increasing ARM

payments. The display will show the payment number to the left.

1 2 ... 48 49 50 51 52 53 54 55 56 57 58 ... 88 89

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Calculated-industries 3430 User Guide Manual de usuario Pagina 53