Finding Monthly Mortgage (P&I) Payment (Including Canadian Mortgage Insurance); Amortization And Remaining Balance; Notes On Amortization - Calculated Industries 3423 User Manual

Finding Monthly Mortgage (P&I) Payment (Including Canadian
Mortgage Insurance)
Find the monthly P&I Payment (including Canadian Mortgage
Insurance) on a 25-year mortgage, 300,000 mortgage at 7.8% inter-
est. Canadian Mortgage Insurance of $5,250 will be added to the
mortgage amount.
STEPS
Clear calculator
Enter annual Interest rate
Enter Term in years
Enter Canadian Mortgage
Insurance
Enter Mortgage Amount
Find Mortgage Amount (including
Canadian Mtg Ins)
Find P&I Payment (including
Canadian Mtg Ins)
Recall entered Canadian
Mtg Ins dollar amount
Find Canadian Mtg Ins
percentage
Note: Typically, Canadian Mortgage Insurance is entered as a percentage based on
the LTV of a loan, but you may enter a percent or dollar amount into Canadian
Mortgage Insurance order to calculate your Mortgage Amount and P&I/Total
Payments.

Amortization and Remaining Balance

The amortization function is quick and simple. It allows you to find
total interest, principal, and remaining balance for an entire
mortgage, for an individual payment or individual year, or any range
of payments or range of years, for fully or partially amortized
mortgages.

Notes on Amortization

1. When you enter a range of payments using the Colon : key,
you can find all three possible outputs — Interest, Principal and
Remaining Balance — without having to re-enter the range each
time. Simply keep pressing the a key to find the values.
30 — Q
UALIFIER
KEYSTROKES
o o
7 • 8 ˆ
2 5 T
5 2 5 0 C
3 0 0 ) l
l
p
— DO NOT CLEAR CALCULATOR —
® C
C
P ® 4
LUS X
DISPLAY
0.00
7.80
25.00
5,250.00
300,000.00
305,250.00
2,290.87
5,250.00
1.75
(Cont'd)