Arm Payment - Lifetime Cap - Calculated Industries 3430 Pocket Reference Manual

ARM Payment — Lifetime Cap
• Loan: $230,000
• Term: 30 years
• Interest: 7.25%
• Lifetime cap: 4%
• ARM Interest Adjustment: 1% per year
Find the adjusted ARM payments through
year six:
STEPS
Clear
Enter loan
Enter term
Enter interest 7 • 2 5 ˆ
Find initial monthly P&I
payment
Enter interest
cap
Enter ARM
parameters 1 : 1 A
Find 1st "adjusted"
payment
Find 2nd "adjusted"
payment
P
KEYSTROKES
o o
2 3 0 ) l
3 0 T
p
4 s %
A
A
R
OCKET EFERENCE
"run" 1,569.01
"run" 1 1,724.90
2 1,883.17
G — 19
UIDE
DISPLAY
0.00
230,000.00
30.00
7.25
CAP 4.00
1.00 - 1.00
(Cont'd)