Infinity-softworks Palm Computing Platform Manuel d'utilisateur télécharger pdf (Page 10)

Loan Pro Lite 9 Infinity Softworks, Inc.

Examples

Example

Home Mortgage

Problem: A client wants to buy a $200,000 home with 35% down

and 7% interest. The loan is for 30 years. What is the monthly

payment?

Solution: Tap the variable’s label or amount to enter information

into the Input screen. The following should be entered:

Location Entry Comments

Clear… Clear the display before starting

Price 200000 The home’s price is $200,000

Down% 35 The client can put 35% down

Int Rate 7 The yearly interest rate is 7.0%

Loan Years 30 The loan is for 30 years

The payment timing and interest compounding are assumed to be 12. When completed, calculate

payment by tapping the “CPT” label to the right of the payment amount. The answer should be

$864.89 per month.

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Infinity-softworks Palm Computing Platform Manuel d'utilisateur Page 10