User Manual

Mortgages and Amortization 31
BEAR-CH1.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:16 PM Printed: 09/28/99 1:16 PM
Page 31 of 36
PITI—Principal, Interest, Tax, and Insurance Based on
Tax and Insurance Percents
1. Clear TVM values (if not already cleared).
#
-
2. Enter local property-tax rate (if not
already entered).
2.38
#
Z
3. Enter local insurance rate (if not already
entered).
0.78
#
Q
4. Enter price.
$85,000
@
5. Enter term of loan (in years).
30
0
6. Enter interest rate.
9
1
7. Enter loan amount.
$65,000
2
8. Compute payment (principal and
interest).
$
3
$
.
523.00
9. Compute PITI.
$
&
$
.
746.83