Calculated-industries 3416 User Guide Manuel d'utilisateur télécharger pdf (Page 74)

SER

’

UIDE

— 69

(Cont’d)

STEPS KEYSTROKES DISPLAY

4. Enter Combo Loan Values:

Enter 1st TD

Interest:Term 6 : 3 0 ! 6.00-30.00

Enter 2nd TD

Interest:Term 8 : 3 0 s ! 8.00-30.00

5. Solve Combo Loan for comparison:

Find 1st:2nd blended

interest rate * “run” 6.23

Find equivalent interest rate

of financed MI loan * “run” 6.06

Find total combined

(1st/2nd TD) payment * 553.02

Find equivalent payment of

of financed MI loan * 542.94

Find Combo monthly savings

over financed MI loan * -10.08

Note: the Financed MI is better when compared to the Combo loan with a monthly

savings of $10.08.

— DO NOT CLEAR CALCULATOR —

What happens if you compared to a 20 year 2nd Trust Deed at a

rate of 8%? Typically, the monthly payment savings will be greater.

STEPS KEYSTROKES DISPLAY

Enter new Interest:Term

for 2nd TD 8 : 2 0 s ! 8.00-20.00

8. Solve Combo Loan for comparison:

Find 1st:2nd blended

interest rate * “run” 6.18

Find equivalent interest rate

of financed MI loan * “run” 6.06

Find total combined

(1st/2nd TD) payment * 563.28

Find equivalent payment of

of financed MI loan * 542.94

Find Combo monthly savings

over financed MI loan * -20.34

Note: the Financed MI is still better when compared to the Combo loan with a month-

ly savings of $20.34.

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Calculated-industries 3416 User Guide Manuel d'utilisateur Page 74

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