USER’S GUIDE — 3
Total Payment (Including Expenses) and Interest-Only
Payment..................................................................................34
Amortization and Remaining Balance........................................35
Notes on Amortization................................................................35
Total Principal and Interest for a 30-Year Loan .........................37
Balloon Payment/Remaining Balance Needed to Pay Off
a Loan.....................................................................................37
Amortization List for Individual Year(s) —
Using “Next” Feature ..............................................................38
Amortization List for Individual Year(s) —
Using Month Offset.................................................................39
Amortization List for Individual Payment(s) ...............................40
Amortization List for a Range of Payments ...............................41
Amortization List for a Range of Years ......................................41
Bi-Weekly Loans ........................................................................42
Bi-Weekly Term Reduction and Payment ..................................42
Future Value...............................................................................43
Appreciation ...............................................................................43
Retirement Savings Account Problem (Future Value of an Initial
Deposit or Lump Sum)............................................................44
Retirement Savings (Future Value of Monthly Investment —
Using Beginning Mode) ..........................................................44
Non-Monthly Loans....................................................................45
Finding a Quarterly Payment .....................................................46
Trust Deeds and Discounted Notes...........................................46
Purchase Price of a Note — Fully Amortized ............................46
Finding the Yield on a Discounted Note ....................................47
Finding the Value and Discount of a Trust Deed .......................48
APR and Total Finance Charges ...............................................49
Finding APR and Total Finance Charges...................................49
Prepaid/Odd-Days Interest and APR .........................................50
Adjustable Rate Mortgages........................................................51
ARM Payment — Worst-Case Scenario....................................52
ARM Payment — Using Lifetime Cap .......................................53
Decreasing ARM Payment.........................................................54
Increasing and Decreasing ARM Payment ................................54
Estimated Income Tax Savings and “After-Tax” Payment .........55
Rent vs. Buy...............................................................................56
BUYER QUALIFYING...................................................................57
QUALIFYING EXAMPLES ...........................................................59
Recalling Income/Debt Qualifying Ratios ..................................59
Storing New Income/Debt Qualifying Ratios..............................59
Finding Qualifying Loan Amount and Sales Price (Simple
Example Excluding Tax/Insurance).........................................60
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