ters, enter the maximum lifetime inter-
est increase then press
[Set] [%]
. This
permanently sets the lifetime cap. To
reset the cap to “0,” enter
0
then press
[Set] [%]
, or perform an “All Clear.”
Increasing & Decreasing ARM Payment
Find the payment for the first three
years on a $100,000, 30 year ARM loan
staring at 10%, increasing 1% after six
months, then decreasing to 1.5% after
an additional 12 months.
Steps/Keystrokes
Display
1. Clear calculator:
[On/C] [On/C]
0.00
2. Enter loan amount, term in years and
annual interest, then find initial monthly
payment:
100,000 [L/A]
100,000.00
30 [Term]
30.00
10 [Int]
10.00
[Pmt] “run”
877.57
3. Enter initial ARM adjustment and find
increased “adjusted” payment:
1 [:] .5 [ARM]
1.00 – 0.50
[ARM] “run”
951.83
4. Enter 2nd ARM “adjustment” and find
increased “adjusted” payment:
1.5 [:] 1 [Set] [ARM]
– 1.50 – 1.00
[ARM] “run”
842.56
User’s Guide — 55
