Calculated Industries 3420 User Guide - Manual (Page 34)

U SER ’ S G UIDE — 33
PITH Payment (Including Heating Expense and Property Tax
Entered as %)
Find the PITH payment on a 25-year, 7.63% mortgage if the home’s
selling price is $178,000 and the down payment is 5%. The annual
property tax is estimated at 1.3% and the monthly heating cost is
estimated at $150.
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter Term in years 2 5 T 25.00
Enter annual Interest 7 • 6 3 ˆ 7.63
Enter sales Price 1 7 8 ) P 178,000.00
Enter Down Payment 5 d 5.00
Set annual Tax rate 1 • 3 t 1.30
Find annual property Taxes t 2,314.00
Add mo. heating Expense 1 5 0 e 150.00
Find Mortgage Amount l 169,100.00
Find P&I Payment p “run” 1,250.90
Find PITI Payment* p 1,443.73
Find PITH/total Payment** p 1,593.73
*Adds monthly property tax to the monthly payment.
**Note that PITH payment calculations are approximate and do not include monthly
insurance premiums, sales taxes, or other applicable fees.
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