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Calculated Industries 3420 Pocket Reference Guide User Manual

Page 34

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P

OCKET

R

EFERENCE

G

UIDE

— 33

PITI Payment and Interest-Only
Payment

• Term: 30 years
• Interest: 6%
• Sales Price: $255,000
• Down Payment: 5%
• Property Taxes: 1.3%
• Property Insurance: 0.25%
• Mortgage Insurance: 0.50%
• Monthly Association Dues: $60

Find the PITI, total and interest-only pay-
ments:

STEPS

KEYSTROKES

DISPLAY

Clear

o o

0.00

Enter Term

3 0 T

25.00

Enter Interest

6 ˆ

6.00

Enter Price

2 5 5 ) P

255,000.00

Down%

5 d

5.00

Set Tax%

1 • 3 t

1.30

Set Ins.%

• 2 5 I

0.25

Set MI%

• 5 Â

0.50

Enter Exp.

6 0 e

60.00

Find Loan

l

242,250.00

Find P&I Pmt.

p

1,452.41

PITI Payment

p

1,882,72

Total Payment

p

1,942.72

Int.-only Pmt.

p

1,211.25

3420PRG-E-A 7/2/04 9:07 AM Page 33