Calculated Industries 3420 Manual de usuario

UALIFIER

LUS

III

PROFESSIONAL RESIDENTIAL REAL ESTATE

FINANCE CALCULATOR

with BUILT-IN CANADIAN INTEREST MODE

Model 3420

Pocket Reference Guide

ANADIAN

3420 PRG CVR ENGLISH_mod 7/21/04 1:47 PM Page 1

POCKET REFERENCE GUIDE — 1

The

CANADIAN QUALIFIER PLUS IIIX

calcula-

tor lets you perform mortgage qualifying

and financial problems with ease!

Quickly Solve:

• Time-Value-of-Money (TVM) Problems:

Find Mortgage Amount, Term, Interest,

Payment, Future Value

• P&I payment, PITH/total payment, and

interest-only payment

• Sales Price and Down Payment

• Loan-to-Value

• Complete Amortization

• Bi-Weekly Mortgages

• Qualifying Mortgage Amount

• Required Income/Debt

• Qualifying Based on Different Ratios

• Date Math

• U.S. Loan Problems — TVM problems,

ARMS, APR, Rent vs. Buy, Estimated

Tax Deduction, Tax/Insurance, PITI

Payment, U.S. Qualifying

•

and more!

For product registration, visit

www.calculated.com

CANADIAN QUALIFIER PLUS®IIIX

3420PRG-E-A 7/2/04 9:07 AM Page 1

POCKET REFERENCE GUIDE — 2

KEY DEFINITIONS.................................4

Canadian/U.S. Interest Modes............8

Preference Mode.................................8

EXAMPLES.............................................9

Basic Math ..........................................9

Percentage Calculations.....................9

Memory Functions.............................10

Setting Decimal Places .....................11

Date Function....................................12

Mortgages and Real Estate

Mortgages.....................................13

EXAMPLES —

CANADIAN MODE

......14

Monthly Mortgage Payment..............14

Term of a Mortgage...........................15

Mortgage Amount..............................15

Interest Rate......................................16

Non-Monthly Mortgages and

Payments Per Year (Pmt/Yr).........17

PITH and Interest-Only Payment......18

Quarterly Payment............................19

Mortgage Amount Based on Sales

Price and % Down Payment.........19

Sales Price Based on Mortgage

Amount and % Down Payment.....20

Finding Loan-to-Value (LTV).............20

Future Value (Appreciation) ..............21

TABLE OF CONTENTS

3420PRG-E-A 7/2/04 9:07 AM Page 2

POCKET REFERENCE GUIDE — 3

Amortization (Total Principal/Total

Interest, Remaining Balance)........22

Bi-Weekly Mortgages........................23

Setting Qualifying Ratios...................24

Qualifying Mortgage Amount.............24

“Restricted” vs. “Unrestricted”

Qualifying......................................26

Qualifying Comparison (Two Ratios

at Once) ........................................28

Finding Income Required and

Allowable Monthly Debt ................30

EXAMPLES —

U.S. MODE

..................31

Monthly Loan Payment.....................31

Setting Tax and Insurance ................32

PITI Payment and Interest-Only

Payment........................................33

Qualifying Loan Amount....................34

ARM Payment —

Lifetime Cap

.........35

APR and Total Finance Charges,

Including Mortgage Insurance.......37

Estimated Tax Savings......................38

Rent vs. Buy......................................39

APPENDIX............................................40

Default Settings.................................40

Repair and Return.............................40

Warranty............................................41

FCC Class B .....................................42

Looking For New Ideas.....................42

3420PRG-E-A 7/2/04 9:07 AM Page 3

POCKET REFERENCE GUIDE — 4

Note: This is a short “reference” guide. Please

see your large User’s Guide for details.

:Colon separator

(for date,

Amortization ranges, ARM

adjustment and qualifying

ratios)

bBackspace

)Triple-zero entry key

µMemory Function:

- µAdds value on dis-

play to Memory

- s µ Subtracts value

on display from Memory

- ® µ Recalls Memory

Total

- ® ® Clears Memory

and displays Memory Total

®Recalls or re-displays a

value when followed by a

chosen key

(e.g.,

® ˆ

will display current interest

value)

KEY DEFINITIONS

3420PRG-E-A 7/2/04 9:07 AM Page 4

POCKET REFERENCE GUIDE — 5

sSets number of displayed

decimal places and acti-

vates 2nd functions

s x Clear All

Note: perform with caution as

it will clear/reset stored values.

s ÷ Payments per year

(Default 12, for monthly)

s – Change sign + or –

s = Preference mode

(see

large User’s Guide)

s ) Month offset

s : Odd-days interest

s T Bi-Weekly mortgage

lMortgage amount or pres-

ent value

pP&I, PITI

(U.S.)

, PITH/total

payment, and interest-only

payment

TNumber of years

ˆAnnual interest rate

s 9 Converts to Canadian or

U.S. Interest Mode

3420PRG-E-A 7/2/04 9:07 AM Page 5

POCKET REFERENCE GUIDE — 6

s l Future value

πPeriod

(identifies entry as

periodic rather than yearly)

PSales Price of home

dDown Payment

(entered in

% or $)

s d Loan-to-Value

(LTV)

aAmortization function

s a Remaining balance

qQualify based on

32%-40%

(Canada)

QQualify based on

35%-42%

(Canada)

iAnnual Income

DLong-term, monthly Debt

tEstimated annual property

Tax

(enter as percent or

dollar amount)

eHousing Expense, includ-

ing monthly heating cost

(Canada)

3420PRG-E-A 7/2/04 9:07 AM Page 6

POCKET REFERENCE GUIDE — 7

U.S. ONLY KEYS:

AAdjustable Rate Mortgage

s A ARM decreasing Interest

% adjustment

s % ARM lifetime Interest Cap

(Cap%)

s ˆ APR

(Annual Percentage

Rate)

, including mortgage

insurance, if entered

s p Estimated tax

savings/after-tax payment

s P Rent vs. Buy

s + Tax bracket %

IEstimated

annual

proper-

ty/homeowner’s insurance

(enter as percent or dollar

amount)

ÂEstimated

annual

mort-

gage insurance, if applica-

ble

(enter as percent or

dollar amount)

3420PRG-E-A 7/2/04 9:07 AM Page 7

POCKET REFERENCE GUIDE — 8

Canadian/U.S. Interest Modes

Your calculator can easily be switched

between Canadian or U.S. Interest Mode

by pressing: s 9

U.S. Mode allows:

• Entry/calculation of U.S. interest

rates.

• Enables selected U.S.-only functions

(e.g., ARM, APR, Rent vs. Buy, Tax

Deduction).

Preference Mode

s = Preference Mode

(see

User’s Guide for details)

Allows you to select special settings. To

access, first press sand then the =

key. Toggle through the various categories

by pressing the =key. Toggle within each

category by pressing the +key. To set

the preference and exit, press the o

key. To reset the calculator back to its

default settings, turn off the calculator,

hold down xand turn back on

(“All

Reset” will flash for one second before

clearing to zero).

3420PRG-E-A 7/2/04 9:07 AM Page 8

POCKET REFERENCE GUIDE — 9

Basic Math

This calculator uses standard chaining

logic. This means the first value is

entered, then an operator, then the sec-

ond value, then the Equals =key to get

your answer.

A. 2 1 6 + 8 4 = 300.00

B. 2 1 6 – 1 6 = 200.00

C. 1 2 x 1 2 = 144.00

D. 1 4 4 ÷ 1 2 = 12.00

Percentage Calculations

The Percent %key is used to find a given

percent of a number or for working add-

on, discount or division percentage calcu-

lations.

A. 8 0 0 x 2 5 % = 200.00

B. 2 5 0 + 1 0 % = 275.00

C. 2 5 – 5 0 % = 12.50

D. 2 0 0 ÷ 5 0 % = 400.00

EXAMPLES

3420PRG-E-A 7/2/04 9:07 AM Page 9

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