Calculated Industries 3125 - Manual (Page 45)

ARM Payment — Using Lifetime Cap
Using the previous loan, add a lifetime
cap of 4%, then find the adjusted pay-
ments through year six.
Steps/Keystrokes Display
1. Clear calculator:
[On/C] [On/C] 0.00
2. Enter loan amount, term and annual
interest, then find the initial monthly pay-
ment:
176,000 [L/A]
176,000.00
30 [Term] 30.00
8.25 [Int] 8.25
[Pmt] “run” 1,322.23
3. Input interest cap:
4 [Set] [%] CAP 4.00
4. Enter ARM parameters then Find 1st —
5th “adjusted” payment:
1 [:] 1 [ARM]
1.00 – 1.00
[ARM] “run” 1,445.79
[ARM] “run” 1,570.86
[ARM] “run” 1,697.07
[ARM] “run” 1,824.09
[ARM] “run” 1,824.09
7. Find principle at start of year, recall cur-
rent interest rate then remaining term:
[Rcl] [L/A]
170,198.79
[Rcl] [Int] 12.25
[Rcl] [Term] 25.00
User’s Guide — 45