Calculated Industries 3420 User manual
Q
UALIFIER
P
LUS
®
III
X
PROFESSIONAL RESIDENTIAL REAL ESTATE
FINANCE CALCULATOR
with BUILT-IN CANADIAN INTEREST MODE
Model 3420
Pocket Reference Guide
C
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
Other manuals for 3420
1
This manual suits for next models
1
Table of contents
Other Calculated Industries Calculator manuals
Calculated Industries
Calculated Industries 4087 User manual
Calculated Industries
Calculated Industries Construction Master IV User manual
Calculated Industries
Calculated Industries GradeMatic 4000 User manual
Calculated Industries
Calculated Industries 4088 User manual
Calculated Industries
Calculated Industries Kitchen Calc PRO Master Chef's Edition 8305 User manual
Calculated Industries
Calculated Industries ScheduleCalc User manual
Calculated Industries
Calculated Industries Quilter's FabriCalc 8400 User manual
Calculated Industries
Calculated Industries 4225 User manual
Calculated Industries
Calculated Industries Measure Master 4018 User manual
Calculated Industries
Calculated Industries Material Estimator User manual
Calculated Industries
Calculated Industries PROJECTCALC CLASSIC 8503 User manual
Calculated Industries
Calculated Industries 8527 User manual
Calculated Industries
Calculated Industries 3265 User manual
Calculated Industries
Calculated Industries PIPE TRADES PRO 4095 User manual
Calculated Industries
Calculated Industries 4020 User manual
Calculated Industries
Calculated Industries Construction Master plus EZ 4067 User manual
Calculated Industries
Calculated Industries ElectriCalc Pro User manual
Calculated Industries
Calculated Industries 9530 User manual
Calculated Industries
Calculated Industries Qualifier Plus IIcx User manual
Calculated Industries
Calculated Industries ElectriCalc Pro 5060 User manual
