Calculated-industries 3405-D Manuel d'utilisateur télécharger pdf (Page 30)

POCKET REFERENCE GUIDE — 29

APR and Total Finance Charges,

Including Mortgage Insurance

• Loan: $250,000

• Term: 30 years

• Interest: 7%

• Cost: 1.5 points + $550

• Mortgage insurance (MI): $1,200/year

STEPS KEYSTROKES DISPLAY

Clear o o 0.00

Enter loan 2 5 0 ) l

250,000.00

Enter term 3 0 T 30.00

Enter interest 7 ˆ 7.00

Find payment p 1,663.26

Enter MI 1 2 0 0 s I

1,200.00

Find Loan Costs:

Recall loan ® l 250,000.00

Find points x 1 • 5 % = 3,750.00

Add fees and

find total + 5 5 0 = 4,300.00

Find APR s ˆ 7.77

Find total

charges ˆ 389,072.25

Amt. financed ˆ 245,700.00

Total cost ˆ 634,772.25

P&I payment ˆ 1,663.26

Monthly MI ˆ 100.00

PIMI payment ˆ 1,763.26

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