Calculated Industries 3405-D User Manual

Page 39

background image

P

OCKET

R

EFERENCE

G

UIDE

— 38

(Cont’d)

STEPS

KEYSTROKES

DISPLAY

Clear Insurance*

0 I

0.00

Solve for

payment

p

2,098.43

Solve for total payment (including

PMI)

p

2,279.26

*Skip to

p

if continuing from the last example,

as rates are already cleared.

2. Enter Combo Loan Values:

Enter 1st TD Interest

and Term

5 • 2 5 : 3 0

!

5.25 - 30.00

Enter 2nd TD Interest

and Term

7 : 1 5 s

!

7.00-15.00

3. Find Combo Loan Values:

Find blended interest rate for

1st/2nd TD

s *

*

5.43

Find equivalent interest rate for

fixed-rate loan with mortgage
insurance

*

6.79

Find 1st/2nd TD combined monthly

payment

*

2,124.27

(Cont’d)