Non-Monthly Loans; Finding A Quarterly Payment; Clear Calculator O O; Enter Interest 7 • 8 ˆ - Calculated Industries 3415 User Manual

Non-Monthly Loans

Most residential real estate loans are based on a monthly payment
schedule. 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 pay-
ments per year.
STEPS
Clear calculator
Enter # of payments/year
To recall the currently stored number of payments:
STEPS
Clear calculator
Recall # of payments/year ® ÷
IMPORTANT: To return payments per year to the default value
of 12, perform the following steps:
STEPS
Clear calculator
Enter # of payments/year

Finding a Quarterly Payment

Find the quarterly payment on a 10-year loan of $15,000 with an
annual interest rate of 12%.
STEPS
Clear calculator
Set to 4 payments/year
Enter loan amount
Enter term in years
Enter annual interest
Find quarterly payment
Reset to 12 payments/year 1 2 s ÷
KEYSTROKES
o o
4 s ÷
KEYSTROKES
o o
KEYSTROKES
o o
1 2 s ÷
KEYSTROKES
o o
4 s ÷
1 5 ) l
1 0 T
1 2 ˆ
p
DISPLAY
DISPLAY
DISPLAY
12.00
DISPLAY
15,000.00
10.00
12.00
"run" 648.94
"run" 12.00
U ' G — 29
SER S UIDE
0.00
4.00
0.00
4.00
0.00
0.00
4.00