Calculated-industries 3430 User Guide Manual de usuario descargar pdf (Pagina 55)

54 — Q

UALIFIER PLUS

III

Decreasing ARM Payment

Calculate the initial monthly P&I payment on a 30-year, $250,000

ARM loan at 5% interest, and then find the second and third years'

adjusted payments if the loan's interest rate decreases 1% at the

end of each year.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Loan Amount 2 5 0 ) l 250,000.00

Enter Term in years 3 0 T 30.00

Enter annual Interest rate 5 ˆ 5.00

Find initial monthly P&I

Payment p “run” 1,342.05

Enter ARM parameters 1 : 1 s A -1.00 - 1.00

Find 1st lower ARM

payment* A 1 ARM 1,197.01

Find 2nd lower ARM

payment* A 2 ARM 1,064.20

*For second and third year payments.

Increasing and Decreasing ARM Payment

Find the ARM payments for a $300,000, 30-year ARM loan that

starts out at 5% but increases 1% after six months and then

decreases 1.5% after an additional 12 months.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Loan Amount 3 0 0 ) l 300,000.00

Enter Term in years 3 0 T 30.00

Enter annual Interest rate 5 ˆ 5.00

Find initial monthly P&I

Payment p “run” 1,610.46

Enter 1st ARM adjustment 1 : • 5 A 1.00 - 0.50

Find higher ARM payment A “run” 1 ARM 1,796.41

Enter 2nd ARM adjustment 1 • 5 : 1 s A -1.50 - 1.00

Find lower ARM payment A “run” 1 ARM 1,527.15

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Calculated-industries 3430 User Guide Manual de usuario Pagina 55