Calculated Industries 43285 - Manual (Page 45)

Steps Keystrokes Display
Clear calculator [On/C] [On/C] 0.00
Enter annual income 36,000 [Inc] 36,00.00
Enter monthly debts 500 [Debt] 500.00
Enter monthly hous. exp. 50 [Exp] 50.00
Enter interest 7.25 [Int] 7.25
Enter term 30 [Term] 30.00
Find Qual 1 stored ratios [Qual 1] 28.00 – 36.00
Find Qual 1 qualif. loan [Qual 1] “run” 77,692.53
Find Qual 1 P & I payment [Pmt] 530.00
Find Qual 1 total payment [Pmt] 580.00
— D O N O T C L E A R C A L C U L A T O R —
Steps Keystrokes Display
Find Qual 2 stored ratios [Qual 2] 29.00 – 41.00
Find Qual 2 qualif. loan [Qual 2] “run” 99,680.98
Find Qual 2 P & I payment [Pmt] 680.00
Find Qual 2 total payment [Pmt] 730.00
Income Required and Allowable Monthly Debt —
Sales Price & Down Payment
Again using 28%:36% ratios, how much income would a buyer
need to purchase a $245,000 home if they put down 20%? (Use
8% interest for 30 years.)
Steps Keystrokes Display
Clear calculator [On/C] [On/C] 0.00
Enter annual interest 8 [Int] 8.00
Enter term in years 30 [Term] 30.00
Enter sales price 245,000 [Price] 245,000.00
Enter down pmt % 20 [Dn Pmt] 20.00
Find loan amount [L/A] 196,000.00
Display qualifying ratios [Qual 1] 28.00 – 36.00
Find income required [Qual 1] “run” 61,636.22
Find maximum allowable
monthly debts [Qual 1] “run” 410.91
44 – Qualifier Plus ® IIx DT