32
BA35ENG.DOC BA-35 Solar Quick Reference Guide
Pat Hatcher Revised: 05/08/00 1:13 PM Printed:
05/08/00 1:13 PM Page 32 of 38
Common Keystroke Sequences
(Cont.)
Loan Amount a Buyer Can Afford
Purpose: To find the maximum loan amount
and selling price a prospective home buyer can
afford, assuming that:
§
The buyer will pay a given percentage of the
selling price as a down payment.
§
An estimated percentage is added to the
monthly payment for taxes and insurance.
§
The total monthly payment (principal,
interest, taxes, and insurance) is not to
exceed a predetermined percentage limit of
the buyer's gross monthly income.
Values You Supply:
§
annual interest rate
§
number of years in mortgage
§
buyer's gross monthly income
§
percent limit (of gross monthly income)
§
percent taxes and Insurance (of total
monthly payment)
§
percent down (of selling price)
Procedure
Key Sequence
Clear calculator and
mode registers; select
two decimal places.
-
-
0
b
0
c
2
Press
2
until FIN is
displayed.
2
(continued)