AF-101
1. Input Loan Amount
EX: 300,000 [L/A]
2. Input Interest Rate
EX: 6 [RATE]
3. Input Loan Term
EX: 30 [TERM]
4. Press PMT. BINGO
Display: 1,798.65
This Gift Model Loan Calculator is super easy to use and carry. It answers
your client's most asked question "How much is my monthly payment
(PMT)?" in just sencond, anytime, anywhere......
Specifications:
- PMT Calculations
- 10 digits
- Pocket Size
- Battery: One CR2032, same as AF-1688
- With carrying case
Great Promotional Gift For Lenders Realtors Title Companies Escrow Companies Mortgage Companies Real Estate Schools Inspection Companies Home Warranty Companies
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Perfect Tool For Realtors Loan Officers Home Buyers Home Sellers
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L/A = Loan Amount, also known as Principal;
Term = The number of years given to repay the loan;
Rate = Annual interest rate for the loan;
PMT = Equal monthly amortized loan payment amounts including Principal and Interest.
Easy Like 1-2-3... Simple Like A-B-C...
Scenario Find the monthly payment for a 30-year, $300,000 mortgage loan at an annual interest rate of 5.875%.
1. Clear any previous values. Press [ON/C]
2. Enter the $300,000 loan amount. Press 300,000 [L/A]
3. Enter the 5.875% annual interest rate Press 5.875 [Rate]
4. Enter the 30-year term . Press 30 [Term]
5. Find the monthly payment amount. Press [PMT]
Monthly payment amount displayed: 1’774.61
Scenario Now, recalculate the monthly payment for the same loan over a 15-year term.
1. Clear the previous payment value. Press [ON/C]
2. Enter the new 15-year term. Press 15 [Term]
3. Find the new payment amount. Press [PMT]
New payment amount displayed: 2’511.36
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