Finding The Monthly Loan Payment - Calculated Industries 3442 User Manual

Mortgage finance calculator

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Table Of Contents

Table of Contents

(Cont'd)

6. It is good practice to press o twice after completing a finan-

cial problem to ensure that you have cleared the previous l

and p registers.

7. When solving for a financial component, the calculator may dis-

play the word "run" in the display. Solving for interest may take

several seconds (up to 15) while the word "run" displays.

8. Once you have calculated an answer, for example, a payment,

you can go back and change any financial variable and recalcu-

late your new answer without re-entering all the other data. This

is handy for demonstrating various "what-if" loan problems.

9. Successive presses of the p key will calculate: 1) the principal

and interest (P&I) payment; 2) the PITI payment, which includes

property tax, property insurance and mortgage insurance, if

entered; 3) the total payment (PITI plus any entered housing

expenses), and 4) the interest-only payment.

10. You may also view the interest-only payment by pressing s

then π.