Calculated Industries 3423, User Manual

Page 1: ...QUALIFIER PLUS 4X ADVANCED REAL ESTATE FINANCE CALCULATOR with CASH FLOW and BUILT IN CANADIAN INTEREST MODE Model 3423 CANADIAN...

Page 2: ...ount Flexible what if Mortgage or TVM Calculations Finds Mortgage Amount Term Interest or Payment Instant P I and Total PITH Payment Includes Property Tax Mortgage Insurance and Heating Expense Built...

Page 3: ...ING THE FEET AND METERS CONVERSIONS 19 USING THE DATE FUNCTION 20 EXAMPLES CANADIAN MODE 21 MORTGAGE TIME VALUE OF MONEY TVM 21 Finding the Monthly Mortgage Payment 22 Finding the Term of a Mortgage 2...

Page 4: ...a Mortgage 36 Future Value 37 Appreciation Future Value 37 Basic Savings Account Problem Future Value of an Initial Deposit 37 Trust Deeds and Discounted Notes 38 Purchase Price of a Note Fully Amort...

Page 5: ...g the Loan Amount 60 Finding Sales Price and Payment Based on Loan Amount and Down Payment 61 Total Principal and Interest for a 30 Year Loan 61 Amortization List for Individual Year s Using Next Feat...

Page 6: ...it at a time Decimal point Percent Four function x percent key See page 17 for examples Memory Adds the displayed number to the inde pendent cumulative memory Pressing s M will subtract the displayed...

Page 7: ...custom settings see page 12 w Meters to Feet Converts entered value from meters to feet s w Feet to Meters ft4m Converts entered value from feet to meters W Meters2 to Feet 2 Converts entered value fr...

Page 8: ...perform a Clear All s x You may enter a periodic term if you prefer by pressing the s b Periodic keys prior to pressing T e g 3 6 s b T instead of 3 T Interest Enters or solves for the annual interest...

Page 9: ...periods per year Default value is 12 for monthly Note You can store the number of payments year permanently or semi permanently See Preference Settings on page 12 a Amortization Amort Finds Total Inte...

Page 10: ...ayment Pressing s T again will exit Bi Weekly mode and re calculate to the original term Pressing o twice will also exit Bi Weekly mode Qualifying Keys What are Canadian Qualifying Ratios According to...

Page 11: ...ebt 4 Unrestricted Qualifying Mortgage Amount 5 Maximum Allowable Debt The Maximum Qualifying Loan Amount displayed is the restricted loan amount that the buyer may qualify for This loan amount is bas...

Page 12: ...Q Qualify Based on 35 42 Stores additional Income and Debt ratios and operates identically to the q key Default Income and Debt ratios for this key are 35 and 42 respectively Note You may store whate...

Page 13: ...pressing t again converts to the annual percent age rate If entered as a percentage pressing t converts to the annual dollar amount and pressing t once more shows the monthly insurance Cash Flow Keys...

Page 14: ...irectly e g 1 0 R the entered rate is used it is not converted to the Effective Interest Rate Percentage Note If there is no initial investment cash outlay enter 0 into the first cash flow register C...

Page 15: ...s you d like to display The values are rounded using conventional 5 4 rounding You can do this prior to finding an answer or afterwards Press s followed by the number of decimal places you wish to dis...

Page 16: ...le converting to Canadian Interest Mode via s the letters CDN will appear and will also be displayed when the key is pressed While converting to U S Mode the letters USA will appear and will also be d...

Page 17: ...lt or factory set Preference Settings perform a Reset see page 70 After s Keep Description Pressing Press to Advance Display within each category 1 Decimal Places DEC HOLd EntrY Permanently sets numbe...

Page 18: ...at O HOLd ALL M Ins Holds or Mortgage Insurance entry at O 5 Amortization Single Entries AMRT Ent Ent Displays Amortization for specified year only e g enter 5 a dis plays payments 49 60 Default AMRT...

Page 19: ...rmanent that is it will only be cleared when you 1 turn off the calculator 2 press or 3 press s x Clear All Examples STEPS KEYSTROKES DISPLAY Store number into Memory 3 5 5 355 00 Add number to Memory...

Page 20: ...one of these Memory Registers by stor ing a new value in place of the stored value FUNCTION KEYSTROKES Store single value in M0 s 0 Store single value in M1 s 1 Store single value in M2 M5 s 2 3 4 or...

Page 21: ...s 0 9 These Storage Registers operate identically to M0 M5 Examples Store 250 into M10 recall the value then clear M10 KEYSTROKE DISPLAY 2 5 0 s 0 M10 250 00 O o 0 00 0 M10 250 00 0 s 0 M10 0 00 Store...

Page 22: ...dd on discount or division percentage calculations 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 The Percent key has special applications for real estate profes sionals es...

Page 23: ...just over four months listed at 175 500 Because she is anxious to move into a new home she wishes to reduce the listing price by 5 Calculate both the amount of reduction in dollars and the new lowere...

Page 24: ...eters Convert 5 meters to feet STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter 5 Meters 5 5 Convert to Feet w FEET 16 40 Convert 20 Feet to Meters STEPS KEYSTROKES DISPLAY Clear calculator o...

Page 25: ...d a second date in the past and 3 subtract one date from another date to find the number of days in between For example if a 45 day escrow begins September 19 2007 what is the closing date and day STE...

Page 26: ...left of the display when the key is pressed 6 The calculator s default setting is 12 payments per year for monthly mortgages 7 It is good practice to press o twice after completing a financial proble...

Page 27: ...ator o o 0 00 Enter Mortgage amount 1 6 5 l 165 000 00 Enter Term in years 2 5 T 25 00 Enter Interest 7 5 7 50 Find monthly P I Payment p run 1 207 07 Solve for effective rate s 7 39 What is the new p...

Page 28: ...Clear calculator o o 0 00 Enter Mortgage Amount 9 8 5 0 0 l 98 500 00 Enter Term 2 5 T 25 00 Enter monthly P I Payment 7 6 5 p 765 00 Find annual Interest rate run 8 21 Find periodic Interest rate 0...

Page 29: ...ear calculator o o 0 00 Recall of payments year 4 00 IMPORTANT To return payments per year to the default value of 12 perform the following steps STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Ent...

Page 30: ...ourth press shows the total principal paid and a fifth press shows the total P I payments A press of p will calculate the Bi Weekly payment Bi Weekly Term Reduction and Payment Find the monthly P I pa...

Page 31: ...re calculating financial values Finding Mortgage Amount Based on Sales Price and Down Payment Find both the down payment dollar amount and mortgage amount if the sales price is 175 800 and you re plan...

Page 32: ...0 00 Recall Tax rate t 1 50 Setting Property Tax Dollar Amount Enter annual property taxes estimated at 2 500 then clear STEPS KEYSTROKES DISPLAY Set annual Taxes 2 5 0 0 t 2 500 00 Clear Tax 0 t 0 0...

Page 33: ...ayment Including Heating Expense and Property Tax Entered as Dollar Amount Find the Total PITH payment on a 25 year 7 25 mortgage if the home s selling price is 227 000 and the down payment is 35 Loca...

Page 34: ...e mortgage amount STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter annual Interest rate 7 8 7 80 Enter Term in years 2 5 T 25 00 Enter monthly P I Payment 1 5 0 0 p 1 500 00 Enter Canadian Mor...

Page 35: ...Ins dollar amount C 5 250 00 Find Canadian Mtg Ins percentage C 1 75 Note Typically Canadian Mortgage Insurance is entered as a percentage based on the LTV of a loan but you may enter a percent or dol...

Page 36: ...ly display the actual principal balance remaining 6 If the first payment of a mortgage begins in a month other than January you can set that month by using the Month Offset func tion The default for t...

Page 37: ...a 438 932 95 Total Principal and Interest Including Canadian Mortgage Insurance How much total interest will you pay on a 200 000 mortgage at 7 5 interest over 25 years with 5 down payment and 2 75 Ca...

Page 38: ...rtgage Amount 9 0 l 90 000 00 Enter Interest rate 8 8 00 Enter annual Term in years 2 5 T 25 00 Find monthly P I Payment p run 686 89 Enter Year 1 1 a run 1 12 Find total interest in Year 1 a 7 040 09...

Page 39: ...ator o o 0 00 Set Month Offset to May 5 s 5 00 Enter Mortgage Amount 9 0 l 90 000 00 Enter annual Interest rate 8 8 00 Enter Term in years 2 5 T 25 00 Find monthly P I Payment p run 686 89 Enter Year...

Page 40: ...99 Find principal in Payment 1 a 224 57 Find P I in Payment 1 a 1 209 56 Find Rem Balance in Payment 1 a 174 775 43 Find Remaining Term in Payment 1 a 24 92 Display Payment 2 a run 2 2 etc sequence r...

Page 41: ...3 37 Find remaining term a 24 25 Enter Years 1 10 1 1 0 a run 1 120 Find interest a 149 169 59 Find principal a 46 657 27 Find P I paid a 195 826 85 Find remaining balance a 178 342 73 Find remaining...

Page 42: ...3 T 3 00 Enter appreciation rate 6 6 00 Find future value s l run 250 750 98 Return to 12 Payments year 1 2 s 12 00 Basic Savings Account Problem Future Value of an Initial Deposit What is the future...

Page 43: ...ay ments and you want a 25 yield or return on your investment In this case you are paying for the income stream the incoming pay ments and not the future value What price should you pay based on this...

Page 44: ...u buy it what will be the yield on your investment STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter future value of note when due 7 5 0 0 s l 7 500 00 Enter purchase price 6 5 0 0 l 6 500 00 E...

Page 45: ...variables you ve input 2 You can use both Qualifying keys q and Q to demonstrate mortgage scenarios based on different qualifying ratios The q key defaults to GDS TDS Income and Debt Ratios of 32 and...

Page 46: ...ratios income or debt limits the buyer the most If the buyer s maximum qualifying loan amount is restricted by their debt then the unrestricted qualifying loan amount will also be dis played The unre...

Page 47: ...1 q 32 00 40 00 Recall Qualifying Ratios 2 Q 35 00 42 00 Storing New GDS TDS Qualifying Ratios Enter and permanently store new qualifying ratios of 30 for Income and 38 for Debt in q STEPS KEYSTROKES...

Page 48: ...Enter monthly Debt 3 5 0 D 350 00 Enter Down Payment 1 0 d 10 000 00 Display Qualifying Ratios q 32 00 40 00 Find pre qualifying Mortgage Amount q run 157 199 41 Find Price P 167 199 41 Find monthly...

Page 49: ...5 interest 25 year term and qualifying ratios of 32 40 if you ve cleared or changed these values please re enter them STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter annual Income 4 5 i 45 0...

Page 50: ...l Income 4 5 i 45 000 00 Enter monthly Debt 2 0 0 D 200 00 Enter Down Payment 1 5 d 7 500 00 Enter property Tax rate 1 5 t 1 50 Enter housing Expense 1 5 0 s D 150 00 Enter Canadian Mortgage Insurance...

Page 51: ...ren t continuing from the previous problem you ll need to re enter inter est term and property tax STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter annual Income 4 5 i 45 000 00 Enter monthly...

Page 52: ...icted Mortgage Amount q UNR 125 197 22 LA INC Find maximum allowable Debt q ALW 300 00 MO DEBT Clear Tax register 0 t 0 00 The UNR in the top of the display and INC in the lower right tells you this u...

Page 53: ...ar calculator o o 0 00 Enter annual Income 4 5 i 45 000 00 Enter monthly Debt 1 5 0 D 150 00 Enter mo heating Expense 7 5 s D 75 00 Enter Interest 7 2 5 7 25 Enter Term 2 5 T 25 00 Enter Down Payment...

Page 54: ...Mortgage Amount l 117 000 00 Display Qualifying Ratios q 32 00 40 00 Find Income required q run 42 303 80 Find maximum allowable monthly Debt q run 282 03 Find P I Payment p 823 10 Find Total Payment...

Page 55: ...d 25 000 00 Find LTV d d 80 00 Enter property Tax rate 1 4 t 1 40 Enter mo housing Expense 1 5 0 s D 150 00 Display stored Ratios q 32 00 40 00 Calculate actual Ratios q run 20 55 27 55 Find sales Pr...

Page 56: ...low is assumed to be the initial investment the frequency remains at one and cannot be changed Frequencies are numbered similar to Cash Flows F 1 through F 19 Frequencies are entered via s c When ente...

Page 57: ...h to skip directly to the NPV calculation press s R The desired Rate of Return is entered prior to performing the calcu lation as shown in the following examples If a desired Rate of Return is not ent...

Page 58: ...per year to one 1 s 1 00 Enter initial investment as a negative entry indicating a cash outlay 2 2 5 s c C 0 225 000 00 Enter 1st cash flow value 1 6 c C 1 16 000 00 Enter 2nd cash flow 1 6 6 0 0 c C...

Page 59: ...c C 0 225 000 00 Enter 1st cash flow value 1 c C 1 1 000 00 Enter 1st cash flow frequency 1 2 s c F 1 12 00 Enter 2nd cash flow value 1 1 0 0 c C 2 1 100 00 Enter 2nd cash flow frequency 1 2 s c F 2 1...

Page 60: ...h flow 2 c C 2 1 100 00 Replace with new cash flow value of 1 150 1 1 5 0 s c C 2 1 150 00 DO NOT CLEAR CASH FLOWS Recalling and Replacing Cash Flow Frequencies STEPS KEYSTROKES DISPLAY 1 Recall the f...

Page 61: ...Interest rate 7 5 7 50 Find monthly P I Payment p run 1 503 31 Finding the Interest Only Payment Find the interest only payment on a loan of 15 000 at 9 interest STEPS KEYSTROKES DISPLAY Clear o o 0 0...

Page 62: ...lculator to hold Tax and Insurance and values when the calculator is turned off see page 12 Note There s a separate Preference Setting for Mortgage Insurance Tax and insurance can be entered as dollar...

Page 63: ...tered as Dollar Amount Find the PITI payment on a 30 year 7 25 loan if the home s selling price is 311 000 and the down payment is 20 Local annual prop erty taxes are estimated at 5 900 and property i...

Page 64: ...tor o o 0 00 Set Property Tax rate 1 5 t 1 50 Set Insurance rate 2 5 s t 0 25 Set Mortgage Ins rate 7 5 s 9 0 75 Enter Price 2 5 0 P 250 000 00 Enter Down Payment 2 5 d 25 00 Enter Term in years 3 0 T...

Page 65: ...h STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter Loan Amount 1 5 l 15 000 00 Enter annual Interest rate 1 0 10 00 Enter monthly Payment 2 0 0 p 200 00 Find Term in years T run 9 85 Find peri...

Page 66: ...d 20 00 Find sales Price P 250 000 00 Find monthly P I Payment p run 1 398 43 Total Principal and Interest for a 30 Year Loan How much total interest will you pay on a 300 000 loan at 7 5 interest ov...

Page 67: ...Loan Amount 9 0 l 90 000 00 Enter annual Interest rate 8 8 00 Enter Term in years 3 0 T 30 00 Find monthly P I Payment p run 660 39 Enter Year 1 1 a run 1 12 Find total interest in Year 1 a 7 172 83...

Page 68: ...nter Term 3 0 T 30 00 Find monthly Payment p run 1 693 22 Enter mortgage ins 6 5 s 9 0 65 Find Loan Costs Recall Loan Amount l 275 000 00 Find point cost x 1 5 4 125 00 Add fees and find total 5 5 0 4...

Page 69: ...ates the total interest paid a fourth press shows the total principal paid and a fifth press shows the total payments A press of p will calculate the Bi weekly Payment Bi Weekly Term Reduction and Pay...

Page 70: ...atios of 28 36 STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter annual Income 7 5 i 75 000 00 Enter monthly Debt 5 0 0 D 500 00 Enter Down Payment 5 d 5 000 00 Set annual prop Tax rate 1 5 t 1...

Page 71: ...annual property Tax rate t 1 50 Recall annual property Insurance rate s t 0 25 Re enter annual MI rate 6 s 9 0 60 Re enter assn dues 5 0 s D 50 00 Enter Down Payment 5 d 5 000 00 Enter annual Income...

Page 72: ...5 a term of 30 years and the stored 28 36 qualifying ratios for what size Interest only loan and what sales price can a buyer qualify for if he or she makes 75 000 annu ally and has 500 in long term...

Page 73: ...0 down STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter annual Interest 7 5 7 50 Enter Term in years 3 0 T 30 00 Enter Tax rate 1 5 t 1 50 Enter Insurance rate 2 5 s t 0 25 Delete Mortgage Ins...

Page 74: ...erty Ins rate 3 s t 0 30 Enter Mortgage Ins rate 4 5 s 9 0 45 Display Qual 1 Ratios q 28 00 36 00 Find Qual 1 Qual Loan q run 94 245 94 Find Qual 1 P I Payment p 642 92 Find Qual 1 PITI Payment p 800...

Page 75: ...set to January 1 Tax Bracket 28 U S Mode only End Mode Reset Manual Reset If your calculator s display should ever freeze or lock up press Reset a small hole located to the left of the O key to perfor...

Page 76: ...ut 8 12 minutes of non use Battery This model uses one 1 CR2016 battery included Should your calculator display become very dim or erratic replace the battery Note Please use caution when disposing of...

Page 77: ...or repairs 2 If your calculator won t turn on check the batteries as outlined in the User s Guide 3 If you need more assistance please go to our website listed below 4 If you believe you need to retu...

Page 78: ...ACKING OF THE LCD WHICH ARE PRESUMED TO BE DAMAGES RESULTING FROM MISUSE OR ABUSE To obtain warranty service in the U S please go to the website A repaired or replacement product assumes the remaining...

Page 79: ...tion of implied warranties or liability for incidental or consequential damages so the above limitation or exclusion may not apply to you This warranty gives you specific rights and you may also have...

Page 80: ...DA 40 CALCULATOR SETTINGS 10 Canadian Mortgage Insurance 29 Canadian U S Mode 11 Cash Flow Examples U S and Canadian 51 Cash Flow Keys 8 DATE FUNCTION 20 Decimal Place Selection 10 Default Settings 70...

Page 81: ...Calculating IRR NPV and NFV for Multiple Annual Cash Flows 53 Recalling and Replacing Cash Flow Frequencies 55 Recalling and Replacing Cash Flows 55 Reduction in Listing Price Discount 18 REPAIR AND R...

Page 82: ...ech Drive Carson City NV 89706 U S A 1 800 854 8075 or 1 775 885 4900 Fax 1 775 885 4949 E mail info calculated com www calculated com Designed in the United States of America Printed in China 5 06 UG...