Calculated Industries 3420 User Guide - Manual (Page 10)

U SER ’ S G UIDE — 9
s ÷ Payments per Year — Used to set the number of
payment periods per year. Default value is 12, for
monthly.
Note: You can store the number of payments/year permanently or
semi-permanently. See “Preference Settings” on page 17).
a Amortization (Amort) — Finds Total Interest,
Principal, Remaining Balance, Remaining Term and
(when in
U.S. Mode only) estimated Mortgage
Interest Tax deduction.
The output of this key is as follows:
Press Display or Calculation
1
Displays range of periods
2 Calculates Total Interest for period range
3 Displays Total Principal for range
4 Calculates Total Principal and Interest
5 Calculates Remaining Balance
6 Calculates Remaining Term
7 (U.S. Mode) Calculates estimated Mortgage
Interest Tax deduction for the specified peri-
od, based on the default tax bracket of 28%*
*You may enter any tax bracket (e.g., 30%, press 3 0 s +
and recalculate amortization values).
Note: This is only for estimating a Mortgage Interest Tax deduc-
tion – it does not include Property Tax. See “Tax Savings” func-
tion/keys.
s a Remaining Bal (Bal) — Displays the Remaining
Balance when preceded by a single year or range of
years (or individual payment or range of payments
by also using the
π key). Note that you can also
see the Remaining Balance by cycling through the
a key.
: Colon Separator (Date) — Used as a separator for
entering dates, qualifying ratios, for entering amorti-
zation ranges and ARM interest/term adjustments.
s ) Month Offset (Mo Offset) — Used to set the first
month of payment if other than January.
3420UG-E-A 7/2/04 9:06 AM Page 9