Calculated Industries 3430 User Guide - Manual (Page 55)

54 — Q
UALIFIER
P
LUS
® III
FX
Decreasing ARM Payment
Calculate the initial monthly P&I payment on a 30-year, $250,000
ARM loan at 5% interest, and then find the second and third years'
adjusted payments if the loan's interest rate decreases 1% at the
end of each year.
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter Loan Amount 2 5 0 ) l 250,000.00
Enter Term in years 3 0 T 30.00
Enter annual Interest rate 5 ˆ 5.00
Find initial monthly P&I
Payment p “run” 1,342.05
Enter ARM parameters 1 : 1 s A -1.00 - 1.00
Find 1st lower ARM
payment* A 1 ARM 1,197.01
Find 2nd lower ARM
payment* A 2 ARM 1,064.20
*For second and third year payments.
Increasing and Decreasing ARM Payment
Find the ARM payments for a $300,000, 30-year ARM loan that
starts out at 5% but increases 1% after six months and then
decreases 1.5% after an additional 12 months.
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter Loan Amount 3 0 0 ) l 300,000.00
Enter Term in years 3 0 T 30.00
Enter annual Interest rate 5 ˆ 5.00
Find initial monthly P&I
Payment p “run” 1,610.46
Enter 1st ARM adjustment 1 : • 5 A 1.00 - 0.50
Find higher ARM payment A “run” 1 ARM 1,796.41
Enter 2nd ARM adjustment 1 • 5 : 1 s A -1.50 - 1.00
Find lower ARM payment A “run” 1 ARM 1,527.15