User guide

ARM Payment — Worst-Case Scenario
Find the initial monthly payment on a 30
year, $176,000 mortgage at 8.25% annual
interest rate. Find the second and third
years’ “worst-case” adjusted payments if
this ARM loan increases 1% at the end of
each year. Find the remaining loan bal-
ance, term, and interest rate.
Steps/Keystrokes Display
1. Clear calculator:
[On/C] [On/C] 0.00
2. Enter loan amount, term and annual
interest:
176,000 [L/A] 176,000.00
30 [Term] 30.00
8.25 [Int] 8.25
3. Find initial monthly payment:
[Pmt] “run” 1,322.23
4. Enter ARM parameters and find 1st and
2nd “adjusted” payments:
1 [:] 1 [ARM] 1.00 – 1.00
[ARM] “run” 1,445.79
[ARM] “run” 1,570.86
5. Find principle at start of year:
[Rcl] [L/A] 173,350.16
6. Recall current interest rate, then recall
remaining term:
[Rcl] [Int] 10.25
[Rcl] [Term] 28.00
44 — Real Estate Master
®
IIx/Qualifier Plus
®
IIx