P
OCKET
R
EFERENCE
G
UIDE
— 20
Sales Price Based on Mortgage
Amount and % Down Payment
Find sales price if the mortgage amount is
$150,000, down payment 5%, term 25
years and interest rate 7.75%.
STEPS
KEYSTROKES
DISPLAY
Clear
o o
0.00
Enter Mtg.
1 5 0 ) l
150,000.00
Enter Down%
5 d
5.00
Enter Term
2 5 T
25.00
Enter Interest
7 • 7 5 ˆ
7.75
Find Payment
p
1,120.98
Find $Down
d d
7,894.74
Find Price
P
157,894.74
Finding Loan-to-Value (LTV)
Find the Loan-to-Value if a buyer is put-
ting $15,000 down on a $215,500 home.
Then find the mortgage amount.
STEPS
KEYSTROKES
DISPLAY
Clear
o o
0.00
Enter Price
2 1 5 5 0 0 P
215,500.00
Enter Down$
1 5 ) d
15,000.00
Find LTV
s d
93.04
Find Mortgage
l
200,500.00
3420PRG-E-A 7/2/04 9:07 AM Page 20
