U
SER
’
S
G
UIDE
— 7
ˆ
Interest
— Enters or solves for the annual interest
rate. Second press gives the periodic rate.
Note: Stored permanently, until you change it.
s l
Future Value (FV)
— Enters or solves for the future
value of a financial problem.
P
Sales Price
— Enters or calculates Sales Price
based on the entries of Loan Amount (or equivalent
mortgage components) and Down Payment.
d
Down Payment
— Enters (in either percent or dol-
lars) or calculates Down Payment, based on the
entries of Loan Amount (or equivalent mortgage
components) and Sales Price. A second press
changes the entered down payment from a dollar
figure to a percent, or vice versa.
Note: Any number under 100 is assumed to be a percent down
payment. You do not have to label the value as a percent
s d
Loan-to-Value (LTV)
— Calculates the loan-to-value
percent when a Down Payment and Sales Price,
Loan Amount and Down Payment, or Loan Amount
and Sales Price are entered. Also calculates the
above dolar values if an LTV percent and one of the
above values are entered (e.g., entered Sales Price
and LTV percent will calculate Down Payment and
Loan Amount).
s ˆ
Annual Percentage Rate (APR)
— Calculates APR
(for fixed-rate loans only) based on the entry of points
and/or non-recurring loan fees paid at initiation. It
also calculates total finance charges, monthly mort-
gage insurance, and PIMI payment, based on the
entry of mortgage insurance via the
s 9
keys.
s b
Periodic
— Used to specify a mortgage component
(Term or Interest), Income, or Amortization/Remaining
Balance value as
per period
rather than
per year
.
For example,
3 6 0 s b T
enters 360
periods, or months.
s ÷
Payments per Year (Pmt/Yr)
— Used to set the
number of payment periods per year. Default value
is 12, for monthly.
Note: You can store the number of payments/year permanently or
semi-permanently. See Preference Settings on
page 22
).
