Calculated Industries 3423 - Manual (Page 24)

Bi-Weekly Mortgages
• Mortgage: $212,500
• Term: 25 years
• Int: 7.85%
Find Bi-Weekly term, savings, total cost
and Bi-Weekly payment:
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter Mortgage 2 1 2 5 0 0 l
212,500.00
Enter Term 2 5 T 25.00
Enter Interest 7 • 8 5 ˆ 7.85
Find Payment p 1,601.53
Find Bi-Weekly
Term s T 20.14
Find total interest
savings T 61,224.88
Find total interest
paid T 206,735.29
Find total
principal T 212,500.00
Find total
payments T 419,235.29
Find Bi-Weekly
Payment p 800.77
Setting Qualifying Ratios
In Canadian Mode, GDS:TDS (Gross Debt
Service/Total Debt Service) ratios of 32%
and 40% are permanently stored in the
q key, and optional ratios of 35%-42%
in the Q key. However, you can enter
any ratios you desire. For example, enter
new qualifying ratios of 30% for GDS and
38% for TDS in
q :
P
OCKET
R
EFERENCE
G
UIDE
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