2. Enter loan amount, interest, term and
find monthly payment:
100,000 [L/A]
100,000.00
8.5 [Int]
8.50
30 [Term]
30.00
[Pmt]
“run”
768.91
3. Find days between escrow closing and
date of 1st payment:
8 [:] 1 [:] 98 [–] 7 [:] 21 [:] 98 [=]
11.00
4. Find the prepaid interest due at closing:
[Set] [000]
259.72
— D
O
N
OT
C
LEAR THE
C
ALCULATOR
—
Add the prepaid interest to the loan’s
points and fees if they are equal to
1.5% and $500, respectively. Then find
the Annual Percentage Rate (APR),
based on these closing costs.
Steps/Keystrokes
Display
1. Store the prepaid interest in Memory:
[M+]
259.72
2. Recall loan amount:
[Rcl] [L/A]
100,000.00
3. Find point cost and fees:
[x] 1.5 [%] [=]
1,500.00
[+] 500 [=]
2,000.00
4. Add prepaid interest stored in Memory:
[+] [Rcl] [M+] [=]
2,259.72
5. Find APR for this loan:
[Set] [Int]
“run”
8.75
40 — Real Estate Master
®
IIx/Qualifier Plus
®
IIx
