Calculated Industries 3126 - Manual (Page 9)

using the [Per] key). Continue pressing
[Amort] to see the Remaining Balance.
U.S.-Mode Only Functions
[ARM]
Adjustable Rate Mortgage: Calculates
payment and re-amortizes fully or par-
tially amortized Adjustable Rate Mortgage
based on the inputs of both Interest
Adjustment and Term Adjustment,
which are separated by the Colon
[:]
key. For example, an ARM which
adjusts 1% every year is entered as
1
[:] 1[ARM] . Pressing [Set] [ARM] adjusts the
rate up or down to show future payments.
(ARM rates are stored permanently.)
[Set] [%]
Lifetime Interest Cap (ARMs):
Permanently sets the lifetime interest cap
for ARMs by entering the maximum
interest increase. Reset to 0 by pressing
0
[Set] [%] .
[Set] [000]
Odd Days Interest: Calculates the pre-
paid interest, or simple interest accumu-
lated (based on a 360 day year) during the
days before the first loan payment. Uses
stored Interest value.
[Set] [Pmt]
Estimated After-Tax Payment: Calculates
an estimated “after-tax” payment if loan
variables and property taxes are entered.
User’s Guide — 9