Calculated Industries 43285 - Manual (Page 6)

total interest for period range, third press shows
total principal for range, and final press gives
remaining balance at end of range.
[Bal] Remaining Balance — 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 [Per] key). Note
that you can also see the Remaining Balance by
cycling through the [Amort] key.
[:] Colon — Used to specify a range for amortiza-
tion or to separate ARM Int: Term and Qualifying
Income: Debt ratios entries. Also used to sepa-
rate values in a date entry.
[ARM] Adjustable Rate Mortgage — Calculates payment
and re-amortizes fully or partially 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 1 [:] 1 [ARM]. By using the [Set] [ARM]
function, you can easily adjust the rate up or
down to display future payments. (ARM rates are
stored permanently.)
[ARM Cap] Lifetime Interest Cap (ARMs) — Sets the lifetime
interest cap for ARMs by entering the maximum
interest increase. This is a permanent setting; to
clear, set the cap back to zero (0 [ARM Cap]).
[Tax] Property Tax — Stores and recalls annual prop-
erty tax in either percent or dollar amount. If
entered as a dollar amount, a second press con-
verts to annual percentage rate. If entered as a
percentage, a second press shows annual dollar
amount. Entering the number 10 or less is
assumed to be an annual percentage. Calculated
from the sales price.
5 – User’s Guide