Calculated-industries 3420 Pocket Reference Guide User Manual

QUALIFIERPLUS®IIIXPROFESSIONAL RESIDENTIAL REAL ESTATEFINANCE CALCULATORwith BUILT-IN CANADIAN INTEREST MODEModel 3420Pocket Reference GuideCANADIAN34

POCKET REFERENCE GUIDE — 9Basic MathThis calculator uses standard chaininglogic. This means the first value isentered, then an operator, then the sec-

POCKET REFERENCE GUIDE — 10Memory FunctionsPressing the µ key adds the displayedvalue to cumulative Memory. s µsubtracts the displayed value from cumu

POCKET REFERENCE GUIDE — 11Setting Decimal PlacesYou can use the s key to select thenumber of decimal places displayed.(Values are rounded using 5/4 r

POCKET REFERENCE GUIDE — 12Date FunctionUsing the : key, you can quickly solvecommon real estate date problems:escrow or closing dates, listing expira

POCKET REFERENCE GUIDE — 13Mortgages and Real Estate Mortgages• The financial functions — l, p, Tand ˆ — work just like you would saythem. For example

POCKET REFERENCE GUIDE — 14See page 8 for instructions to return yourcalculator to Canadian Mode if your calcu-lator does not display the letters “CDN

POCKET REFERENCE GUIDE — 15Term of a MortgageHow long does it take to pay off a mort-gage of $15,000 at 10% interest if youmake payments of $200 each

POCKET REFERENCE GUIDE — 16Interest RateFind the interest rate on a mortgage if themortgage amount is $155,500, term is 25years and payment is $1,150

POCKET REFERENCE GUIDE — 17Non-Monthly Mortgages and PaymentsPer Year (Pmt/Yr)Most mortgages are paid monthly. If pay-ing a non-monthly mortgage, howe

POCKET REFERENCE GUIDE — 18PITH and Interest-Only Payment • Term: 25 years• Interest: 7% • Sales Price: $198,000• Down Payment: 5% • Property Tax: 1.3

POCKET REFERENCE GUIDE — 1The CANADIAN QUALIFIER PLUS IIIXcalcula-tor lets you perform mortgage qualifyingand financial problems with ease! Quickly So

POCKET REFERENCE GUIDE — 19Quarterly PaymentFind the quarterly payment on a 10-year,12%-interest loan of $15,000. STEPS KEYSTROKES DISPLAYClear o o 0.

POCKET REFERENCE GUIDE — 20Sales Price Based on MortgageAmount and % Down PaymentFind sales price if the mortgage amount is$150,000, down payment 5%,

POCKET REFERENCE GUIDE — 21Future Value (Appreciation)What will a $250,000 home be worth inthree years, figuring 6% appreciation?STEPS KEYSTROKES DISP

POCKET REFERENCE GUIDE — 22Amortization (Total Principal/TotalInterest, Remaining Balance)• Mortgage: $175,000 • Term: 25 years• Interest: 7.5%Note: S

POCKET REFERENCE GUIDE — 23Bi-Weekly Mortgages• Mortgage: $212,500• Term: 25 years• Int: 7.85%Find Bi-Weekly term, savings, total costand Bi-Weekly pa

POCKET REFERENCE GUIDE — 24Setting Qualifying Ratios In Canadian Mode, GDS:TDS (GrossDebt Service/Total Debt Service) ratios of32% and 40% are permane

POCKET REFERENCE GUIDE — 25(Cont’d)Find qualifying mortgage amount, priceand total payment:STEPS KEYSTROKES DISPLAYClear o o 0.00Enter Income 4 5 )

POCKET REFERENCE GUIDE — 26“Restricted” vs. “Unrestricted”Qualifying• Buyer’s Income: $52,000• Monthly Debt: $150 • Down Payment: 5% • Property Tax: 1

POCKET REFERENCE GUIDE — 27(Cont’d)STEPS KEYSTROKES DISPLAYEnter %DownPayment 5 d 5.00Display QualifyingRatios q 32.00 – 40.00Find “Restricted” or max

POCKET REFERENCE GUIDE — 28Qualifying Comparison (Two Ratios at Once)• Buyer’s Income: $50,000• Monthly Debt: $125 • Property Tax: 1.25%• Monthly heat

POCKET REFERENCE GUIDE — 2KEY DEFINITIONS...4Canadian/U.S. Interest Modes...8Preference Mode...

POCKET REFERENCE GUIDE — 29(Cont’d)STEPS KEYSTROKES DISPLAYFind Qual 1 maximum QualifyingMortgage q 145,893.06Find Qual 1 P&IPayment p 1,044.48Fin

POCKET REFERENCE GUIDE — 30Finding Income Required andAllowable Monthly Debt• Sales Price: $225,000• Down%: 35%• Property Tax: 1.5%• Heating Expense:

POCKET REFERENCE GUIDE — 31(Cont’d)STEPS KEYSTROKES DISPLAYFind Income required q 55,355,59Find maximum allowablemo. Debt q 369.04Find P&I Payment

POCKET REFERENCE GUIDE — 32IMPORTANT: Change your calculatorback to Canadian Mode if you are return-ing to Canadian examples. (Again presss 9.)Setting

POCKET REFERENCE GUIDE — 33PITI Payment and Interest-OnlyPayment• Term: 30 years• Interest: 6% • Sales Price: $255,000• Down Payment: 5% • Property Ta

POCKET REFERENCE GUIDE — 34Qualifying Loan Amount• Buyer’s Income: $100,000 • Monthly Debt: $550 • Down Payment: 25%• Property Tax: 1.5%• Property Ins

POCKET REFERENCE GUIDE — 35ARM Payment — Lifetime Cap• Loan: $330,000• Term: 30 years• Interest: 7%• Lifetime Cap: 4%• ARM Interest Adj.: 1% per yearF

POCKET REFERENCE GUIDE — 36(Cont’d)STEPS KEYSTROKES DISPLAYFind 3rd “adjusted” Payment A 3 2,869.91Find 4th “adjusted” Payment A 4 3,099.73 M*Fin

POCKET REFERENCE GUIDE — 37APR and Total Finance Charges,Including Mortgage Insurance • Loan: $250,000• Term: 30 years• Interest: 6.25%• Cost: 1.5 poi

POCKET REFERENCE GUIDE — 38Estimated Tax Savings• Loan: $150,000• Buyer’s Tax Bracket: 28%• Term: 30 years• Interest: 6.75%• Property Taxes: $1,500• P

POCKET REFERENCE GUIDE — 3Amortization (Total Principal/Total Interest, Remaining Balance)...22Bi-Weekly Mortgages...23Setti

POCKET REFERENCE GUIDE — 39Rent vs. Buy• Term: 30 years • Tax: 1.25%• Interest: 6.5% • Insurance: 0.35%• Down: 10% • Tax Bracket: 30%If your client i

POCKET REFERENCE GUIDE — 40Default SettingsYour calculator has the following default settings. Performing a FullReset (e.g. - turn off calculator, hol

POCKET REFERENCE GUIDE — 41WarrantyWarranty Repair Service – U.S.A.Calculated Industries (“CI”) warrants this product against defects inmaterials and

POCKET REFERENCE GUIDE — 42DisclaimerCI MAKES NO WARRANTY OR REPRESENTATION, EITHEREXPRESS OR IMPLIED, WITH RESPECT TO THE PRODUCT’SQUALITY, PERFORMAN

This equipment has been certified to complywith the limits for a Class B computing device,pursuant to Subpart J of Part 15 of FCC rules.Software copyr

POCKET REFERENCE GUIDE — 4Note: This is a short “reference” guide. Pleasesee your large User’s Guide for details.: Colon separator (for date,Amortizat

POCKET REFERENCE GUIDE — 5s Sets number of displayeddecimal places and acti-vates 2nd functions s x Clear AllNote: perform with caution asit will clea

POCKET REFERENCE GUIDE — 6s l Future valueπ Period (identifies entry asperiodic rather than yearly)P Sales Price of homed Down Payment (entered in% or

POCKET REFERENCE GUIDE — 7U.S. ONLY KEYS:A Adjustable Rate Mortgages A ARM decreasing Interest% adjustments % ARM lifetime Interest Cap(Cap%)s ˆ APR (

POCKET REFERENCE GUIDE — 8Canadian/U.S. Interest ModesYour calculator can easily be switchedbetween Canadian or U.S. Interest Modeby pressing: s 9U.S