Calculated Industries 3430 Pocket Reference Manual - Ocket
Other manuals for 3430:
User Manual
Manual is about: ADVANCED RESIDENTIAL REAL ESTATE FINANCE CALCULATOR with CASH FLOW and COMPLETE BUYER QUALIFYING
of
43
P
OCKET
R
EFERENCE
G
UIDE
— 30
Income Required and Allowable
Monthly Debt
• Sales price: $300,000
• Down%: 20%
• Property taxes: 1.5%
• Property insurance: 0.25%
• Mortgage insurance: 0%
• Term: 30 years
• Interest: 5.88%
Find the income required to finance a
$300,000 home and the maximum allow-
able debt.
Note: Clear mortgage insurance rate to zero, as
the down payment is 20%.
STEPS
KEYSTROKES
DISPLAY
Clear
o o
0.00
Enter interest
5 • 8 8 ˆ
5.88
Enter term
3 0 T
30.00
Enter tax%
1 • 5 s 7
1.50
Enter insurance%
• 2 5 s 8
0.25
Clear MI%
0 s 9
0.00
Enter price
3 0 0 ) P
300,000.00
Enter down%
2 0 d
20.00
Find down$
d
60,000.00
(Cont’d)