2 — MORTGAGE QUALIFIER PLUS ®P X2s xClear All — Clears all entered values and returns allstorable values to the default settings. Use this onlywith caution, as it will reset ratios, payments peryear, etc. back to their defaults (see the Appendixfor a list of these settings).Note: Clear All will not affect any changes made to PreferenceSettings.s =Preferences (Prefs) — Activates the PreferenceMode, where you can select custom settings (seePreference Settings).Mortgage Loan (TVM) KeysThe following keys let you solve time-value-of-money (TVM) prob-lems, such as finding a loan payment, term, interest or future value,amortization or Equity Builder loans. Other useful keys, such asPrice and Down Payment, are also included. These mortgage loankeys let you demonstrate various “What-if” loan scenarios to yourclients.lLoan Amount — Enters or solves for the initial loanamount or present value of a financial problem.pP&I, PITI Payment, Total Payment, Interest-OnlyPayment — Enters or solves for the periodic princi-pal and interest (P&I) payment. Pressing p a sec-ond time in succession calculates the PITI payment(P&I plus property tax, property insurance and mort-gage insurance, if entered). The third press of pcomputes the total payment (PITI plus any enteredexpenses such as homeowner’s association duesand other housing expenses). The fourth press cal-culates the interest-only payment.T Enters or solves for the number of years. Secondpress gives the number of periods. You may enter aperiodic term, if you prefer, by pressing the π key(e.g., 3 6 π T instead of 3 T). An enteredterm greater than 100 will be classified as periodic,not annual.Note: Stored permanently, until you change it.ˆInterest — Enters or solves for the annual interestrate. Second press gives the periodic rate.Note: Stored permanently, until you change it.s lFuture Value (FV) — Enters or solves for the future
