Calculated-industries 3416 User Guide Manuel d'utilisateur télécharger pdf (Page 36)

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UIDE

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Calculating Tax and Insurance Percent or Dollar Amounts

If loan variables are entered in addition to tax and insurance per-

centage rates or dollar values, the respective dollar values or per-

centage rates can be computed by simply pressing the applicable

keys a second time. For example, enter an annual property tax rate

of 1.5%, a property insurance rate of 0.25% and a mortgage insur-

ance rate of 0.50%. Then enter a sales price of $250,000, 10%

down, a term of 30 years and an interest rate of 8%. Calculate the

loan, payments, and annual tax and insurance dollar amounts, or

premiums:

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter property tax rate 1 • 5 t 1.50

Enter insurance rate • 2 5 I 0.25

Enter mortgage insurance

rate • 5 s I 0.50

Enter price 2 5 0 ) P 250,000.00

Enter down payment % 1 0 d 10.00

Enter term 3 0 T 30.00

Enter interest 8 ˆ 8.00

Find loan amount l 225,000.00

Recall property tax % ® t 1.50

Calculate property tax $ t 3,750.00

Recall property insurance %

® I 0.25

Calculate property

insurance $ I 625.00

Recall mortgage

insurance % ® s I 0.50

Calculate mortgage

insurance $ I 1,125.00

Find P&I payment p 1,650.97

Find PITI payment p 2,109.30

Note: The same procedure can be performed to find the opposite — that is, to find

the % rates based on entered annual dollar amounts or insurance premiums. Simply

enter the tax/ins. dollar amounts and loan variables first, and press

and the

tax/ins. key to calculate the percentage rate.

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Calculated-industries 3416 User Guide Manuel d'utilisateur Page 36