KEY DEFINITIONS o - On/Clear Key Turns power On. Pressing once clears the display. Pressing twice clears all temporary values. O - Off Turns power Off, clearing all non-perma- nent registers. + – x ÷ = Arithmetic Operation keys. Four-function (+ – x ÷) Percent key. 0 - 9 and •...
Mortgage/TVM (Time Value of Money) Keys l - Loan Amount or Present Value Enters or solves for the initial Loan Amount or Present Value of a financial problem. p - Payment Enters or solves for the periodic principal and interest (P&I) payment. j - Interest-Only Payment Enters or solves for the periodic Interest- Only Payment.
s + - Periodic Used with other function keys to designate a value as Periodic rather than annual (e.g., 3 6 s + T). Note: Interest and Term are stored permanently until they are changed. This means when you turn the cal- culator off, the values will stay in Memory.
Payments per Year The calculator is set to monthly loans, or 12 Payments per Year (P/Yr). To change to other than 12 Payments per Year, use the s and ÷ keys (e.g., to set a loan to six Payments per Year, press: 6 s ÷).
2, etc.). Pressing s 7 will set the calculator to floating decimal point mode. Note: When you turn the calculator off, the number of decimal places is restored to two places. Clear All To clear/reset calculator to its default values, press s then x (Clear All).
LOAN EXAMPLES Monthly Payment Find the Monthly Payment on a 30-year loan of $220,000 at 7.5% annual interest rate. KEYSTROKE 2 2 0 0 0 0 l 7 • 5 ˆ 3 0 T Term How long does it take to pay off a loan of $275,000 at 6.5% interest if you make payments of $1,700 each month? KEYSTROKE...
KEYSTROKE 1 5 5 0 0 0 l 3 0 T 1 1 0 0 p ˆ What is the periodic interest? KEYSTROKE ˆ Loan Amount How much can you borrow if the interest rate is 7.75% on a 30-year mortgage and you can afford to pay $1,200 each month? KEYSTROKE 7 •...
Interest–Only Payment (Entry) How much can you borrow if the interest rate is 7% on a 30-year interest–only mortgage and you can afford to pay $1,000 each month? KEYSTROKE 7 ˆ 1 0 0 0 j Quarterly Payment Find the quarterly payment on a 10-year loan of $15,000 at 10% annual interest rate.
KEYSTROKE 1 8 0 0 0 0 l 7 ˆ 3 0 T a (Range of Payments) a (Total Interest) a (Total Principal) a (Total Payments) Total Interest, Principal and Remaining Balance - for Range of Payments How much Total Interest and Principal will you pay in payments 1-5 on a 30-year, $100,000 loan at 7% interest? What is the Remaining Balance?
Total Interest, Principal and Remaining Balance - for Range of Years How much Total Interest and Principal will you pay in years 1-5 on a 30-year, $100,000 loan at 7% interest? What is the Remaining Balance after payments 1-36? KEYSTROKE 1 0 0 0 0 0 l 7 ˆ...
Trust Deed/Purchase Price of a Note - Fully Amortized You’d like to buy a mortgage with 15 years remaining, $100 per month in incoming payments and you desire a 25% return. What will you pay for the mortgage? What if you desire a 20% yield? KEYSTROKE 2 5 ˆ...
Date Examples If a 45-day escrow begins April 26, 2007, what is the closing date? KEYSTROKE 4 • 2 6 • 0 7 + 4 5 Your escrow closing date is June 10, 2007. If today’s date is April 26, 2007, how many days until it closes? Subtract today's date from the closing date.
ACCURACY AND AUTO SHUT-OFF Reset If your calculator should ever “lock up,” press Reset - a small hole located on the back of the calculator - using the end of a paper clip. Accuracy The normal display is nine (9) digits. Each cal- culation is carried out internally to 12 digits.
Information Return Guidelines: Please read the Warranty in this User's Guide to determine if your Calculated Industries product remains under warranty before call- ing or returning any device for evalu- ation or repairs. If your product won't turn on, use the...
WARRANTY Calculated Industries ("CI") warrants this product against defects in materials and workmanship for a period of one (1) year from the date of original consumer purchase in the U.S. If a defect exists during the warranty period, CI at its option will either repair (using new or remanufac- tured parts) or replace (with a new or remanufactured calculator) the product at no charge.
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Repair Service – Outside the U.S.A. To obtain warranty or non-warranty repair service for goods purchased outside the U.S., contact the dealer through which you initially purchased the product. If you cannot reasonably have the product repaired in your area, you may contact CI to obtain current prod- uct repair information and charges, including freight and duties.
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Class B calculating device, pur- suant to Subpart J of Part 15 of FCC rules. LOOKING FOR NEW IDEAS Calculated Industries, a leading manufacturer of special-function calculators and digital measuring instruments, is always looking for new product ideas in these areas.
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Software copyrighted and licensed to Calculated Industries, by Real Estate Master Technologies, LLC, 2006. User’s Guide copyrighted by Calculated Industries, 2006. PaymentCalc ™ is a trademark and Calculated Industries ® is a registered trademark of Calculated Industries ALL RIGHTS RESERVED CALCULATED INDUSTRIES ®...