Non-Monthly Loans & Payments Per Year
Most residential real estate loans are paid off monthly. However, if
you have a non-monthly loan, you must change your number of
payments per year using a two-key sequence: [Set] [÷]. For exam-
ple, here’s how to set your calculator to four payments per year.
Steps
Keystrokes
Display
Clear calculator
[On/C] [On/C]
0.00
Enter # of payments/year
4 [Set] [÷]
4.00
To recall the currently stored number of payments:
Steps
Keystrokes
Display
Clear calculator
[On/C] [On/C]
0.00
Recall # of payments/year [Rcl] [÷]
4.00
IMPORTANT: To return the payments per year to the default value of
12, you must do the following steps (or perform an All-Clear [Set] [x]).
Steps
Keystrokes
Display
Clear calculator
[On/C] [On/C]
0.00
Enter # of payments/year
12 [Set] [÷]
12.00
Finding a Quarterly Payment
Find the
quarterly
payment on a 10-year loan of $15,000 with
an annual interest rate of 12%.
Steps
Keystrokes
Display
Clear calculator
[On/C] [On/C]
0.00
Set to 4 payments/year
4 [Set] [÷]
4.00
Enter loan amount
15,000 [L/A]
15,000.00
Enter term in years
10 [Term]
10.00
Enter annual interest
12 [Int]
12.00
Find quarterly payment
[Pmt]
“run” 648.94
Reset to 12 payments/year 12 [Set] [÷]
“run” 12.00
16 – Qualifier Plus
®
IIx DT
