Calculated Industries 3416 User Guide - Manual (Page 10)

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A Adjustable Rate Mortgage — Calculates the pay-
ment and re-amortizes a fully or partially amortized
Adjustable Rate Mortgage based on the inputs of
both an Interest Adjustment and a Term Adjustment,
which are entered using the Colon
: key (Interest
Adjustment : Term Adjustment). For example, an
ARM which increases 1% every six months is entered
1 : • 5 A ; an ARM which decreases 1% every
six months is entered 1 : • 5 s A . (ARM
rates are stored permanently.)
s % Lifetime Interest Cap (ARMs) — Sets the lifetime
interest cap for ARMs by entering the maximum
interest increase. This is a permanent setting. To
clear, set the cap back to zero (
0 s % ).
s T Bi-Weekly (Bi-Wkly) — Converts a regular monthly
loan to a Bi-Weekly loan, where the buyer may real-
ize significant interest savings. After loan variables
are entered, pressing
s T displays the reduc-
tion in term. The second press of T shows the
total interest savings; third press displays the total
interest
paid ; fourth press displays the total principal;
and fifth press displays the total principal and inter-
est paid. Pressing
p will calculate the bi-weekly
payment. Pressing s T again will return and
re-calculate to the original term, or pressing o
twice will exit Bi-Weekly Mode.