Manual

U SER ’ S G UIDE — 79
(Cont’d)
STEPS KEYSTROKES DISPLAY
Enter 2nd TD Interest:Term 1 1 • 5 : 3 0 s !
11.50-30.00
Enter 1st:2nd LTV values 8 0 : 1 5 s d 80.00-15.00
4. Find 1st TD Payments:
Find 1st year payment s N 202.27
Find 2nd year payment N 217.44
Find 3rd year payment N 233.75
Find 4th year payment N 251.28
Find 5th year payment N 270.13
5. Find 1st TD Loan Amount:
N 75,789.47
6. Find 1st TD Total Cost:
Find total principal/interest N 171,517.97
Find total interest N 95,728.50*
Find remaining balance N 0.00
7. Find 2nd TD Loan Amount:
N 14,210.53
8. Find 2nd TD Payment: N 140.73
9. Find 2nd TD Total Cost:
Find 2nd TD total
principal and interest N 21,558.70
Find total interest N 7,348.17*
Find remaining balance N 0.00
Find 2nd TD adjusted term
(if savings of 1st TD
applied to 2nd TD) N 9.62
*Notice the EB P-A-P Combo loan’s total interest ($103,076.67) is approximately $56k
less than the fixed-rate loan’s total interest of $159,127.97.