Calculated-industries 3420 User Guide Bedienungsanleitung PDF herunterladen (Seite 58)

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Calculating Tax and Insurance % or $

If loan variables are entered in addition to tax and insurance per-

centage rates or dollar values, the respective Tax/Insurance dollar

values or percentage rates can be viewed by simply pressing the

applicable keys a second time. For example, enter an annual prop-

erty tax rate of 1.5%, a property insurance rate of 0.25% and a mort-

gage insurance rate of 0.75%. Then enter a sales price of $250,000,

25% down, a term of 25 years and an interest rate of 8%. Calculate

the loan, monthly payments and annual tax and insurance dollar

amounts, or premiums.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Set Tax rate 1 • 5 t 1.50

Set Insurance rate • 2 5 I 0.25

Set Mortgage Ins. rate • 7 5 Â 0.75

Enter Price 2 5 0 ) P 250,000.00

Enter Down Payment % 2 5 d 25.00

Enter Term 3 0 T 30.00

Enter Interest 8 ˆ 8.00

Find Mortgage Amount l 187,500.00

Recall property Tax % ® t 1.50

Calculate property Tax $ t 3,750.00

Recall property Ins. % ® I 0.25

Calculate property Ins. $ I 625.00

Recall Mortgage Ins. % ® Â 0.75

Calculate Mortgage Ins. $ Â 1,406.25

Find P&I Payment p “run” 1,375.81

Find PITI Payment p “run” 1,857.58

Note: The same procedure can be performed to find the opposite — that is, find the

respective % rates based on entered annual dollar amounts or insurance premiums.

Simply enter the $ amounts and mortgage variables first, and the second press of the

respective key will calculate the percentage rate.

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Calculated-industries 3420 User Guide Bedienungsanleitung Seite 58