Calculated Industries 3442 - Manual (Page 17)

12 — M
ORTGAGE
Q
UALIFIER
P
LUS
®
P X2
(Cont’d)
The typical output of this key is as follows:
Press Calculation
1-5 P-A-P Payments (Years 1-5)*
6 Range for P-A-P Savings and ROI%
Savings Range**
7 P-A-P Savings (vs. fixed-rate loan or
P-A-P Note%
8 Stored ROI% (Default 10%)
9 ROI% Savings (based on default of 10%, or
input of ROI%)
10 Range of P-A-P Amortization
11 P-A-P Total Principal and Interest
12 P-A-P Total Interest Paid
13 P-A-P Loan Balance at End of Range
*Unless “1.00”, “none” or “ALL” payment cutoff is
selected via the Preference Settings.
**Based on default years 1-5, or an entered number
of years less than 5.
Note: The actual number of payments displayed will depend upon
the type of P-A-P loan, the payment cap, and the difference
between starting and fully indexed interest rates.
The P-A-P Savings is calculated using the difference
between the P-A-P payments and the fixed-rate loan
payments (
p ). If no fixed-rate loan is entered, the
calculator will use the P-A-P Note rate for the loan
comparison. ROI is not applied to this value, thus
providing the P-A-P Savings, also known as the
“raw” savings. The Return on Investment (ROI) is
based on the stored ROI% (default is 10%, but any
ROI% can be entered). You may want to enter sev-
eral different ROI%’s to compare different savings
scenarios (see the first P-A-P example).
The P-A-P Savings and the Return on Investment
(ROI) for a P-A-P/EB P-A-P are calculated for the
first five years, unless a number less than five is
entered. For example, entering
2 ∏ will
(Cont’d)