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POCKET REFERENCE GUIDE — 31
(Cont’d)
Find Loan Costs:
STEPS KEYSTROKES DISPLAY
Recall loan ® l 350,000.00
Find points x 1 • 5 % = 5,250.00
Add fees and
find total + 7 5 0 = 6,000.00
Add prepaid interest stored
in memory + ® µ = 6,641.67
Find APR s ˆ 6.99
Find total
charges ˆ 478,075.33
Amount financed
ˆ 343,358.33
Total cost ˆ 821,433.66
P&I payment ˆ 2,098.43
Monthly MI ˆ 183.33
PIMI payment ˆ 2,281.76
Clear All s x
“All Cleared”
0.00
*APR includes points/fees, prepaid interest, and,
like the previous example, it also includes the
cost of mortgage insurance (an optional entry).
3405PRG-E-B 1/9/04 8:45 AM Page 31
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