Calculated Industries 3423 - Manual (Page 22)

P
OCKET
R
EFERENCE
G
UIDE
— 18
Canadian Mortgage Insurance
Find the monthly P&I payment on a 25-year,
$150,000 mortgage at 7.5% annual interest
with 1.5% mortgage insurance.
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter Mortgage 2 5 0 ) l
150,000.00
Enter Term 2 5 T 25.00
Enter Interest 7 • 5 ˆ 7.50
Enter Mortgage
Insurance 1 • 5 C 1.50
Find Payment p 1,856.32
Future Value (Appreciation)
What will a $250,000 home be worth in
three years, figuring 6% appreciation?
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Set 1 pmt/yr 1 s ÷ 1.00
Enter present
value 2 5 0 ) l
250,000.00
Enter Term 3 T 3.00
Enter appreciation
rate 6 ˆ 6.00
Find FV s l 298,513.07
Return to 12 payments
per year 1 2 s ч 12.00