Calculated Industries 3401 User Manual

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SER’S

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UIDE

Residential Mortgage Finance Calculator

Model 3401

TABLE OF CONTENTS

Key Definitions ..................................................1

Mortgage/TVM Keys ........................................2

Date Key ..........................................................3

Amortization Keys............................................3

Payments Per Year..........................................4

Delta Percent ..................................................4

Percentage Calculations..................................4

Memory............................................................5

Decimal Place Selection..................................5

Clear All............................................................5

Loan Examples ..................................................6

Monthly Payment ............................................6

Term ................................................................6

Interest Rate ....................................................6

Loan Amount....................................................7

Interest-Only Payment (Calculation)................7

Interest-Only Payment (Entry) ........................8

Quarterly Payment ..........................................8

Amortization -

Total Interest and Principal Paid ................8

Total Interest, Principal and Remaining

Balance - for Range of Payments................9

Total Interest, Principal and Remaining

Balance - for Range of Years ....................10

Balloon Payment/Remaining Balance............10

Trust Deed/Purchase Price of a Note -

Fully Amortized ..........................................11

Future Value ..................................................11

Date Examples ..............................................12

Delta % - Rate of Appreciation ......................12

Accuracy and Auto Shut-Off ..........................13

Repair and Return ............................................14

Warranty............................................................15

o - On/Clear Key

Turns power On. Pressing once clears the
display. Pressing twice clears all temporary
values.

O - Off

Turns power Off, clearing all non-perma­nent registers.

+ – x ÷ =

Arithmetic Operation keys.

%

Four-function (+ – x ÷ ) Percent key.

0 - 9 and •

Digits used for keying in numbers.

b

Backspace key; for backing up/deleting
wrong entry one digit at a time.

s

Used to set or access second functions.
Also used to set the number of decimal
places (see

“Decimal Place Selection”

on page 5).

s – - Change sign (+/-)

Toggles the displayed value to positive
or negative.

USER’S GUIDE - 1

KEY DEFINITIONS

Mortgage/TVM (Time Value of Money) Keys
l - Loan Amount or Present Value

Enters or solves for the initial Loan
Amount or Present Value of a financial

problem.

p - Payment

Enters or solves for the periodic principal
and interest (P&I) payment.

j - Interest-Only Payment

Enters or solves for the periodic Interest­Only Payment. Aterm does not need to be
entered to solve Interest-Only Payments.

T - Term of Loan

Enters or solves for the number of years
or periods. Multiple presses will toggle
between annual and periodic. An entered
number greater than 59 is assumed to be
periodic.

ˆ - Interest

Enters or solves the annual or periodic
Interest Rate. Multiple presses will tog­gle between annual and periodic.

F - Future Value

Enters or solves for the Future Value of a
financial problem.

USER’S GUIDE - 2

s + - Periodic

Used with other function keys to
designate a value as Periodic rather than
annual (e.g., 3 6 s + T).

Note: Interest and Term are stored permanently until
they are changed. This means when you turn the cal­culator off, the values will stay in Memory.

Date Key

• - Date Entry Key

Used to separate the month, day, and
year when entering dates ( e.g., 5 • 2

• 0 7 to enter 05-02-07).This allows
you to add or subtract a number of days
from a date to find a second date, and
subtract one date from another date to
find the number of days in between.

Amortization Keys

a - Amortization

Displays the Range of Payments, Total
Interest, Total Principal, Total Payments
and Remaining Balance, for an entered
number of years or periods. For example,
to amortize year one enter 1 a to dis­play the total P&I reduction for payments
1-12.

∫ - Remaining Balance

Displays the Remaining Balance of the
loan, for an entered number of years or
periods.

USER’S GUIDE - 3

USER’S GUIDE - 4

Payments per Year

The calculator is set to monthly loans, or 12
Payments per Year (P/Yr). To change to other
than 12 Payments per Year, use the s and
÷ keys (e.g., to set a loan to six Payments per
Year, press: 6 s ÷).

Note: Remember to change back to 12 by either
resetting

1 2 s ÷

or performing a Clear All/Reset

s x

.

Delta Percent

Delta Percent function ( ) finds the percent
change between two values.The = key must
be pressed to complete the calculation.

KEYSTROKE DISPLAY

1 0 s % 1 5 = 50.00
1 0 0 s % 2 5 = -75.00

Percentage Calculations

The percent % key can be used for finding a
given percent of a number or for working add­on, discount or division percent calculations.

For example:

8 0 0 x 2 5 % = 200.00
2 5 0 + 1 0 % = 275.00
2 5 – 5 % = 23.75
1 0 0 ÷ 5 0 % = 200.00