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Calculating Tax and Insurance Percent or Dollar Amounts
If loan variables are entered in addition to tax and insurance per-
centage rates or dollar values, the respective dollar values or per-
centage rates can be computed by simply pressing the applicable
keys a second time. For example, enter an annual property tax rate
of 1.5%, a property insurance rate of 0.25% and a mortgage insur-
ance rate of 0.50%. Then enter a sales price of $250,000, 10%
down, a term of 30 years and an interest rate of 8%. Calculate the
loan, payments, and annual tax and insurance dollar amounts, or
premiums:
STEPS
Clear calculator
Enter property tax rate
Enter insurance rate
Enter mortgage insurance
rate
Enter price
Enter down payment %
Enter term
Enter interest
Find loan amount
Recall property tax %
Calculate property tax $
Recall property insurance % ® I
Calculate property
insurance $
Recall mortgage
insurance %
Calculate mortgage
insurance $
Find P&I payment
Find PITI payment
Note: The same procedure can be performed to find the opposite — that is, to find
the % rates based on entered annual dollar amounts or insurance premiums. Simply
enter the tax/ins. dollar amounts and loan variables first, and press ® and the
tax/ins. key to calculate the percentage rate.
KEYSTROKES
o o
1 • 5 t
• 2 5 I
• 5 s I
2 5 0 ) P
1 0 d
3 0 T
8 ˆ
l
® t
t
I
® s I
I
p
p
DISPLAY
250,000.00
10.00
30.00
225,000.00
3,750.00
625.00
1,125.00
1,650.97
2,109.30
U
'
G
— 31
SER
S
UIDE
0.00
1.50
0.25
0.50
8.00
1.50
0.25
0.50
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