Calculated-industries 3416 User Guide Uživatelský manuál stáhnout pdf (Strana 27)

22 — M

ORTGAGE

UALIFIER

LUS

MORTGAGE LOANS/TIME-VALUE-OF-MONEY (TVM)

1. The basic loan keys — l, p, T and ˆ — work just like

you would say them. For example, if you want to borrow $100,000

for 30 years at 10% interest, just enter those three known vari-

ables and press the key for the

unknown

fourth variable: p.

2. When computing future value problems, enter the present value

into the l key.

3. Financial values may be entered in any order you want.

4. Entered values for Term and Interest are permanently stored

(they do not clear when the calculator is turned off).

5. The calculator’s default setting is 12 payments per year, for

monthly loans.

6. It is good practice to press o twice after completing a finan-

cial problem to ensure that you have cleared the previous l

and p registers.

7. When solving for a financial component, the calculator may dis-

play the word “run” in the display. Solving for interest may take

several seconds (up to 15) while the word “run” displays.

8. Once you have calculated an answer, for example, a payment,

you can go back and change any financial variable and recalcu-

late your new answer without re-entering all the other data. This

is handy for demonstrating various “what if” loan problems.

9. Successive presses of the p key will calculate:

• the principal and interest (P&I) payment;

• the PITI payment, which includes property tax, property

insurance and mortgage insurance, if entered;

• the total payment (PITI plus any entered housing expenses);

and

• the interest-only payment.

EXAMPLES

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Calculated-industries 3416 User Guide Uživatelský manuál Strana 27