Calculated Industries 3420 Manuel utilisateur
Q
UALIFIER
P
LUS
®
III
X
PROFESSIONAL RESIDENTIAL REAL ESTATE
FINANCE CALCULATOR
with BUILT-IN CANADIAN INTEREST MODE
Model 3420
Pocket Reference Guide
C
ANADIAN
3420 PRG CVR ENGLISH_mod 7/21/04 1:47 PM Page 1
POCKET REFERENCE GUIDE — 1
The
CANADIAN QUALIFIER PLUS IIIX
calcula-
tor lets you perform mortgage qualifying
and financial problems with ease!
Quickly Solve:
• Time-Value-of-Money (TVM) Problems:
Find Mortgage Amount, Term, Interest,
Payment, Future Value
• P&I payment, PITH/total payment, and
interest-only payment
• Sales Price and Down Payment
• Loan-to-Value
• Complete Amortization
• Bi-Weekly Mortgages
• Qualifying Mortgage Amount
• Required Income/Debt
• Qualifying Based on Different Ratios
• Date Math
• U.S. Loan Problems — TVM problems,
ARMS, APR, Rent vs. Buy, Estimated
Tax Deduction, Tax/Insurance, PITI
Payment, U.S. Qualifying
•
and more!
For product registration, visit
www.calculated.com
CANADIAN QUALIFIER PLUS®IIIX
3420PRG-E-A 7/2/04 9:07 AM Page 1
POCKET REFERENCE GUIDE — 2
KEY DEFINITIONS.................................4
Canadian/U.S. Interest Modes............8
Preference Mode.................................8
EXAMPLES.............................................9
Basic Math ..........................................9
Percentage Calculations.....................9
Memory Functions.............................10
Setting Decimal Places .....................11
Date Function....................................12
Mortgages and Real Estate
Mortgages.....................................13
EXAMPLES —
CANADIAN MODE
......14
Monthly Mortgage Payment..............14
Term of a Mortgage...........................15
Mortgage Amount..............................15
Interest Rate......................................16
Non-Monthly Mortgages and
Payments Per Year (Pmt/Yr).........17
PITH and Interest-Only Payment......18
Quarterly Payment............................19
Mortgage Amount Based on Sales
Price and % Down Payment.........19
Sales Price Based on Mortgage
Amount and % Down Payment.....20
Finding Loan-to-Value (LTV).............20
Future Value (Appreciation) ..............21
TABLE OF CONTENTS
3420PRG-E-A 7/2/04 9:07 AM Page 2
POCKET REFERENCE GUIDE — 3
Amortization (Total Principal/Total
Interest, Remaining Balance)........22
Bi-Weekly Mortgages........................23
Setting Qualifying Ratios...................24
Qualifying Mortgage Amount.............24
“Restricted” vs. “Unrestricted”
Qualifying......................................26
Qualifying Comparison (Two Ratios
at Once) ........................................28
Finding Income Required and
Allowable Monthly Debt ................30
EXAMPLES —
U.S. MODE
..................31
Monthly Loan Payment.....................31
Setting Tax and Insurance ................32
PITI Payment and Interest-Only
Payment........................................33
Qualifying Loan Amount....................34
ARM Payment —
Lifetime Cap
.........35
APR and Total Finance Charges,
Including Mortgage Insurance.......37
Estimated Tax Savings......................38
Rent vs. Buy......................................39
APPENDIX............................................40
Default Settings.................................40
Repair and Return.............................40
Warranty............................................41
FCC Class B .....................................42
Looking For New Ideas.....................42
3420PRG-E-A 7/2/04 9:07 AM Page 3
POCKET REFERENCE GUIDE — 4
Note: This is a short “reference” guide. Please
see your large User’s Guide for details.
:Colon separator
(for date,
Amortization ranges, ARM
adjustment and qualifying
ratios)
bBackspace
)Triple-zero entry key
µMemory Function:
- µAdds value on dis-
play to Memory
- s µ Subtracts value
on display from Memory
- ® µ Recalls Memory
Total
- ® ® Clears Memory
and displays Memory Total
®Recalls or re-displays a
value when followed by a
chosen key
(e.g.,
® ˆ
will display current interest
value)
KEY DEFINITIONS
3420PRG-E-A 7/2/04 9:07 AM Page 4
POCKET REFERENCE GUIDE — 5
sSets number of displayed
decimal places and acti-
vates 2nd functions
s x Clear All
Note: perform with caution as
it will clear/reset stored values.
s ÷ Payments per year
(Default 12, for monthly)
s – Change sign + or –
s = Preference mode
(see
large User’s Guide)
s ) Month offset
s : Odd-days interest
s T Bi-Weekly mortgage
lMortgage amount or pres-
ent value
pP&I, PITI
(U.S.)
, PITH/total
payment, and interest-only
payment
TNumber of years
ˆAnnual interest rate
s 9 Converts to Canadian or
U.S. Interest Mode
3420PRG-E-A 7/2/04 9:07 AM Page 5
POCKET REFERENCE GUIDE — 6
s l Future value
πPeriod
(identifies entry as
periodic rather than yearly)
PSales Price of home
dDown Payment
(entered in
% or $)
s d Loan-to-Value
(LTV)
aAmortization function
s a Remaining balance
qQualify based on
32%-40%
(Canada)
QQualify based on
35%-42%
(Canada)
iAnnual Income
DLong-term, monthly Debt
tEstimated annual property
Tax
(enter as percent or
dollar amount)
eHousing Expense, includ-
ing monthly heating cost
(Canada)
3420PRG-E-A 7/2/04 9:07 AM Page 6
POCKET REFERENCE GUIDE — 7
U.S. ONLY KEYS:
AAdjustable Rate Mortgage
s A ARM decreasing Interest
% adjustment
s % ARM lifetime Interest Cap
(Cap%)
s ˆ APR
(Annual Percentage
Rate)
, including mortgage
insurance, if entered
s p Estimated tax
savings/after-tax payment
s P Rent vs. Buy
s + Tax bracket %
IEstimated
annual
proper-
ty/homeowner’s insurance
(enter as percent or dollar
amount)
ÂEstimated
annual
mort-
gage insurance, if applica-
ble
(enter as percent or
dollar amount)
3420PRG-E-A 7/2/04 9:07 AM Page 7
POCKET REFERENCE GUIDE — 8
Canadian/U.S. Interest Modes
Your calculator can easily be switched
between Canadian or U.S. Interest Mode
by pressing: s 9
U.S. Mode allows:
• Entry/calculation of U.S. interest
rates.
• Enables selected U.S.-only functions
(e.g., ARM, APR, Rent vs. Buy, Tax
Deduction).
Preference Mode
s = Preference Mode
(see
User’s Guide for details)
Allows you to select special settings. To
access, first press sand then the =
key. Toggle through the various categories
by pressing the =key. Toggle within each
category by pressing the +key. To set
the preference and exit, press the o
key. To reset the calculator back to its
default settings, turn off the calculator,
hold down xand turn back on
(“All
Reset” will flash for one second before
clearing to zero).
3420PRG-E-A 7/2/04 9:07 AM Page 8
POCKET REFERENCE GUIDE — 9
Basic Math
This calculator uses standard chaining
logic. This means the first value is
entered, then an operator, then the sec-
ond value, then the Equals =key to get
your answer.
A. 2 1 6 + 8 4 = 300.00
B. 2 1 6 – 1 6 = 200.00
C. 1 2 x 1 2 = 144.00
D. 1 4 4 ÷ 1 2 = 12.00
Percentage Calculations
The Percent %key is used to find a given
percent of a number or for working add-
on, discount or division percentage calcu-
lations.
A. 8 0 0 x 2 5 % = 200.00
B. 2 5 0 + 1 0 % = 275.00
C. 2 5 – 5 0 % = 12.50
D. 2 0 0 ÷ 5 0 % = 400.00
EXAMPLES
3420PRG-E-A 7/2/04 9:07 AM Page 9
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