Calculated Industries 3405 User manual

This equipment has been certified to comply
with the limits for a Class B computing device,
pursuant to Subpart J of Part 15 of FCC rules.
Software copyrighted and licensed to
Calculated Industries, Inc. by
Real Estate Master Technologies, LLC, 2004.
Pocket Reference Guide copyrighted by
Calculated Industries, Inc. © 2004.
Real Estate Master® and Calculated Industries® are
registered trademarks of Calculated Industries, Inc.
ALL RIGHTS RESERVED
CALCULATED INDUSTRIES®
4840 Hytech Drive
Carson City, NV 89706 U.S.A.
1-800-854-8075 Fax: [phone]
E-mail: [email protected]
www.calculated.com
Designed in the USA
Printed in China
3405PRG-E-B
1/04
R EAL E STATE M ASTER
®
III X
RESIDENTIAL REAL ESTATE
FINANCE CALCULATOR
Model 3405
Pocket Reference Guide

POCKET REFERENCE GUIDE — 1
The REAL ESTATE MASTER IIIX calculator
lets you perform mortgage loan and
financing problems with ease!
Quickly Solve:
• Time-Value-of-Money (TVM) Problems:
Find Loan Amount, Term, Interest,
Payment, Future Value
• Property Tax, Homeowner’s Insurance,
Mortgage Insurance
• P&I, PITI & Interest-Only Payments
• Sales Price and Down Payment
• Rent vs. Buy
• Estimated Income Tax Savings/Deduction
• Adjustable Rate Mortgages (ARMs)
• Amortization and Remaining Balance
• Bi-Weekly Loans
• Date Math Problems
• New! APR, including MI
• New! 80:10:10/80:15:5 Combo Loans
REAL ESTATE MASTER®IIIX
3405PRG-E-B 1/9/04 8:45 AM Page 1

POCKET REFERENCE GUIDE — 2
KEY DEFINITIONS .................................4
Preference Settings —
How to
Access
...............................................9
EXAMPLES...........................................11
Memory —
Add/Subtract/Multiply ......11
Memory/Storage Registers................12
Finding Commission..........................12
Reduction of Listing Price..................13
Date of Escrow Closing.....................13
Monthly Mortgage (P&I) Payment.....14
Term of a Loan ..................................14
Interest Rate......................................15
Loan Amount .....................................15
Loan Amount Based on Sales Price
and Down Payment.........................16
Loan-to-Value ....................................16
Setting Tax and Insurance.................17
P&I, PITI and Interest-Only
Payments.........................................18
Quarterly Payment.............................19
Estimated Tax Savings......................20
Rent vs. Buy......................................21
ARM Payment —
Increasing and
Decreasing Payments
.....................22
Amortization — Using “Next” Feature ..24
TABLE OF CONTENTS
3405PRG-E-B 1/9/04 8:45 AM Page 2

POCKET REFERENCE GUIDE — 3
Amortization for Individual Year(s)—
Month Offset, Tax Bracket Change ...26
Balloon Payment/Remaining
Balance............................................28
APR and Total Finance Charges,
Including Mortgage Insurance.........29
Prepaid (Odd-Days) Interest and APR,
Including Mortgage Insurance.........30
Appreciation/Future Value .................32
Bi-Weekly Loans................................33
80:10:10 Combo Loan vs. Fixed-Rate
Loan with Mortgage Insurance........34
80:15:5 Combo Loan vs. Fixed-Rate
Loan with Mortgage Insurance........37
APPENDIX ............................................40
Default Settings.................................40
Decimal Place Setting .......................40
Batteries.............................................41
Reset .................................................41
Legal Notes .......................................41
3405PRG-E-B 1/9/04 8:45 AM Page 3

POCKET REFERENCE GUIDE — 4
:Colon separator (used for
dates, ARMs, Amortization
ranges, and Combo loans)
bBackspace key; for back-
ing up/deleting wrong entry
®Recalls or re-displays a
value when followed by a
chosen key (e.g., ® ˆ
will display current interest
value)
µMemory Function:
- µAdds value on dis-
play to Memory
- s µ Subtracts value
on display from Memory
- ® µ Recalls Memory
Total
- ® ® Recalls and
clears Memory Total
sSets number of displayed
decimal places and acti-
vates 2nd functions
s – Change sign
KEY DEFINITIONS
3405PRG-E-B 1/9/04 8:45 AM Page 4

POCKET REFERENCE GUIDE — 5
s x Clear All (Note: perform
with caution as it will
clear/reset stored values)
s = Preference mode (see pg.
9 for details)
s ÷ Payments per year
(Default 12, for monthly)
s b Periodic (identifies entry as
periodic instead of yearly)
s ) Month offset
s : Odd-days interest
s + Tax bracket %
s p Estimated tax
savings/after-tax payment
s P Rent vs. buy
lLoan amount
pP&I, PITI and interest-only
payment
TNumber of years
ˆAnnual interest rate
s l Future value
3405PRG-E-B 1/9/04 8:45 AM Page 5

POCKET REFERENCE GUIDE — 6
s ˆ APR (annual percentage
rate), including mortgage
insurance, if entered
PSales price of property
dDown payment
s T Bi-Weekly loan
aAmortization function
s a Remaining balance
AAdjustable-rate mortgage
s A ARM decreasing interest
% adjustment
s % ARM lifetime interest cap
tProperty tax (enter as per-
cent or dollar amount)*
IProperty/homeowner’s
insurance (enter as per-
cent or dollar amount)*
3405PRG-E-B 1/9/04 8:45 AM Page 6

POCKET REFERENCE GUIDE — 7
s I Mortgage insurance (enter as
percent or dollar amount)*
*Note: Once Tax/Insurance
% (or $) values are entered
— as well as TVM values
— the second press of
t I , or press of s
I I
will compute the $
(or %); third press finds
monthly amounts
s d For entering (or finding)
Loan-to-Value ratio and
computing respective
Down Payment and/or
Loan Amount
!Used to enter 1st TD
interest:term for Combo
Loans
s ! Used to enter 2nd TD
interest:term for Combo
Loans
3405PRG-E-B 1/9/04 8:45 AM Page 7

POCKET REFERENCE GUIDE — 8
*Combo loan function for an
80:10:10 LTV loan; calcu-
lates 1st/2nd TD values
and compares them to
entered fixed-rate loan
w/mortgage insurance
*You may enter any LTV
prior to pressing this key
(e.g., LTV of 90:5, enter
9 0 : 5 * )
s * Combo loan function for an
80:15:5 loan; same func-
tion as above key
3405PRG-E-B 1/9/04 8:45 AM Page 8

POCKET REFERENCE GUIDE — 9
Preference Settings — How to Access
Press
s , then = , then keep pressing
= to toggle through the main settings.
Press the
+ key to advance within sub-
setting. Use the
– key to back up. Press
any key to exit mode.
Press sand then:
1st press
of =Decimal Places:
--Off 0.00 (returns to 2
decimal places @ Off)
+--Permanently holds
decimal place setting
2nd press =Payments PerYear:
--Returns to 12 @ Off)
+--Holds payments/year
3rd press =Tax/Ins. (Cleared or
Stored):
--Clears T&I ($ or %)
values @ Off
+--Permanently holds only
T&I %
+--Permanently holds T&I
($ OR %)
+--Clears T&I ($ or %) @
o o
(Cont’d)
3405PRG-E-B 1/9/04 8:45 AM Page 9