Calculated Industries 3430 - PITI Payment, Total Payment and Interest-Only Payment

P
OCKET REFERENCE GUIDE — 12
PITI Payment, Total Payment and
Interest-Only Payment
• Term: 30 years
• Interest: 6.25%
• Sales price: $325,000
• Down payment: 5%
• Property taxes: 1.3%
• Property insurance: 0.25%
• Mortgage insurance: 0.45%
Find the Monthly PITI payment:
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter term 3 0 T 30.00
Enter interest 6 • 2 5 ˆ 6.25
Enter price 3 2 5 ) P
325,000.00
Enter Down% 5 d 5.00
Enter tax% 1 • 3 s 7 1.30
Enter insurance%
• 2 5 s 8 0.25
Enter MI% • 4 5 s 9 0.45
Find loan l 308,750.00
Find P&I
payment p “run” 1,901.03
Find PITI
payment p 2,436.60
— DO NOT CLEAR CALCULATOR —