Victor 6500 Executive Desktop Loan Calculator Operation Manual

Victor 6500 Executive Desktop Loan Calculator

Introduction

Executive Financial Desktop Calculator with Loan Wizard

12 12-digit calculator is perfect for desktop use either at home or in the office. Features an extra large, angled LCD display. The loan wizard helps you effortlessly answer any loan question (simply input any three loan variables to compute the fourth).

Other functions include automatic tax keys, selectable decimals, square root keys, grand total keys, percent keys, 3-key independent memory, change sign key, backspace key, delta percent, and automatic power down.

Product Specifications

• Size (in): 7.9 D x 5.7 W x 1.8 H
• Weight (oz): 9.4
• Product Color: White and Silver
• Warranty (yrs): 2
• Power Source: Hybrid (Solar/Battery)
• Battery Type: 1 AAA
• Number of Digits: 12
• Digit Size (mm): 21
• Adjustable or Angled: Fixed Angle
• Key Type: Plastic
• Antimicrobial: No
• Recycled Plastic: No
• Water/Shock Resistant: No
• Financial Calculations: No
• Scientific Calculations: No
• Currency Conversion: No
• Loan Wizard: No
• Cost/Sell/Margin Keys: No
• Mark Up Key: No
• Automatic Tax Keys: No
• Independent Memory: Yes
• Auto Replay: No
• Check/Correct: No
• Percent Key: Yes
• Change Sign Key: Yes
• Square Root Key: Yes
• Round Up/Down Switch: Yes
• Selectable Decimal Setting: Yes
• Grand Total: Yes
• Backspace Key: Yes
• Automatic Constants: No
• Slide On Cover: Yes

KEY OPERATIONS

• ON/C : Power on, reset errors, and resume calculation.

  • Press once to clear the display.
  • Press twice to clear temporary memory values, except “M,” “tax rate,” and “P/Y” memory.
  • The icon “mthly” will flash when [P/Y] = 12.

• SHIFT OFF : Power off. Clears all except “tax rate.” “P/Y” resets to 12.

• CE : Clear Entry.

• SHIFT [CLEAR ALL] : Clears and resets the calculator to its default values, except “tax rate” memory. “P/Y” resets to 12, and “mthly” will flash.

• √ : Square root.

• ± : Sign change key (Changes the sign of the displayed value from positive to negative or vice versa).

• → : Right shift key (Shifts the displayed value to the right, deleting the rightmost digit).

• M+ : Memory plus (Adds the displayed value to the independent memory).

• M- : Memory minus (Subtracts the displayed value from the independent memory).

• MRC : Recall memory / Memory Clear.

• 00 : Fast addition of “00” (Displays two “0” when pressed once).

• GT : To recall the value stored in the grand total memory, which will be updated whenever (=) has been pressed. Grand total memory will be cleared when [ON/C] is pressed. As long as GT is not zero, the icon “GT” will appear on the display.

• LOAN : Loan Amount or present value.

• PMT : Payment, enter or solve for the periodic principal and interest (P&I) payment.

• YEARS : Term of Loan.

• % : Interest.

• SHIFT P/Y : Payment Per Year.

• SHIFT 4% : Finds the percent change between two values.

  • Percent key.

• SHIFT TAXRATE : Press to recall the current tax rate. To change, enter a new tax rate and then press [+ TAX] again to confirm the new tax rate value.

  • +TAX : Press to add the tax to the total.
  • -TAX : Press to subtract the tax from the total.

• SHIFT [DEC SET] : Decimal place selector.

  • Presets the number of decimal places in the answer.
  • F : Floating decimal point.
  • 4, 2, 0 indicates 4, 2, or 0 decimal places.
  • A : When the switch is set to “A,” this indicates that the decimal digit is automatically set to 2 (for example: If you key in “8” the value is 0.08) but if you key in “•” then this position is the base (Cannot use for multiplication and division).

MEMORY AND REGISTER

• Independent Memory “M”
  • Recall by pressing [MRC] once.
  • Clear only by pressing [MRC] twice or turning off the calculator. Pressing [ON/C] twice will not clear this memory.
• Grand Total “GT”
  • Clear by pressing [ON] or pressing [GT] twice.
• Tax Rate
  • Recall by pressing [ON/C], [SHIFT], and [Tax Rate].
  • The tax rate will never change until the user enters a new tax rate to replace it.

BASIC CALCULATIONS

Invoicing

TAX CALCULATOR

MORTGAGE LOAN CALCULATION

• Basic mortgage keys – [Loan], [Pmt], [Years], [Int].
• Enter any three known variables and press the key to find the unknown fourth variable.
• The calculator’s default setting is 12 payments per year for a monthly loan. If you have a non-monthly loan, you should change the number of payments per year using the two keys [Shift] [P/Y ], e.g. quarterly payment: 4 [Shift] [P/Y ]. You can also press [ON/C], [Shift] [P/Y ] to view the current setting of [P/Y].
• Once you have calculated an answer, you can recall/re-display any variable by pressing [Shift] and the corresponding key.
• You can change any variable and re-calculate the new answer without re-entering all the other data. This is handy for demonstrating various “what if” mortgage problems.
• Future Value
  When oomputlng future value problem, enter lhe present value Into tl”l9 (Loan) key.

LOAN EXAMPLES

Finding tM Monthly Mortgage Paymanl

Note:

• Before pressing [ON/C] [ON/C] to clear variable registers, you can change any variable to find the new answer. You do not need to re-enter all variables.
• If [P/Y] is set to 12, “Mthly” will flash when pressing [ON/C] twice.

Finding the Monthly Payment with a Down Payment %: This operation helps calculate the monthly payment when a down payment percentage is involved.

Finding the Term of a Mortgage Loan

Finding the Loan Amount

Finding ttie 1ntetest rat &

M <I extra Payment to find the 1erm

Finding the Quarterly Payment

WARRANTY

Your new VICTOR electronic calculator is guaranteed to the original purchaser for two years, covering all parts and labor, provided that repair work is carried out at an authorized VICTOR Regional Service Center, and the unit is sent via prepaid mail. For Service Centers outside the USA, please consult your local office supply dealer or visit Victor’s website.

Warranty repair requires a copy of the original purchase invoice or receipt to be included with the machine.

Any warranty, whether statutory or otherwise, does not cover service, replacement, or repair of parts in cases where damage or defects result from accidents, abuse, or exposure to the elements.

Corporate Office and National Service Center

• Address: Victor Technology 175 E. Crossroads Parkway Suite D Bolingbrook, IL 60440
• Phone: (630-754-4400) Fax: (630-972-3902)
• Website: http://www.victortech.com

Frequently Asked Questions

What is the Victor 6500 Executive Desktop Loan Calculator?

The Victor 6500 Executive Desktop Loan Calculator is a 12-digit calculator designed for desktop use, suitable for both home and office environments. It features an extra-large angled LCD display and a Loan Wizard to help you effortlessly solve loan-related calculations by inputting any three loan variables to compute the fourth.

What are the key features of this calculator?

The calculator offers several features, including automatic tax keys, selectable decimals, square root keys, grand total keys, percent keys, 3-key independent memory, change sign key, backspace key, delta percent, and automatic power down. It also includes a variety of mathematical functions and options for your convenience.

Does this calculator come with a warranty?

Yes, the Victor 6500 Executive Desktop Loan Calculator is backed by a 2-year warranty. This warranty covers all parts and labor when the repair work is performed at an authorized Victor Regional Service Center. To request warranty service, please ensure to include a copy of the original purchase invoice or receipt with the machine.

What is the power source for this calculator?

This calculator operates on a hybrid power source, which means it can be powered by both solar energy and a single AAA battery. This dual power source ensures reliability even in various lighting conditions.

Can I perform financial and scientific calculations with this calculator?

No, this calculator is primarily designed for basic calculations and loan- related functions. It does not support advanced financial or scientific calculations. It is ideal for tasks related to loans, interest rates, and basic mathematical operations.

How do I use the memory functions of this calculator?

The calculator offers independent memory (M) and a grand total memory (GT). You can recall independent memory by pressing MRC once and clear it by pressing MRC twice or turning off the calculator. The grand total memory can be cleared by pressing ON or GT twice.

Can I change the decimal setting on this calculator?

Yes, you can select the decimal setting using the SHIFT, DEC SET key. You have options for different decimal places, including floating decimal points. The available choices are 4, 2, 0, and automatic (A) settings.

How do I calculate mortgage loan-related scenarios with this calculator?

The calculator is equipped to assist with basic mortgage loan calculations. You can enter any three known variables (e.g., Loan Amount, Payment, Years, Interest), and it will compute the fourth variable. This feature is handy for determining loan details and what if scenarios.

What is the purpose of the Loan Wizard on this calculator?

The Loan Wizard feature allows you to input any three loan variables to calculate the fourth, making it easy to solve loan-related questions. This feature simplifies loan-related calculations and provides quick solutions.

Can I use this calculator for other financial calculations, such as currency conversion or cost/sell/margin calculations?

No, this calculator is not designed for other financial calculations such as currency conversion or cost/sell/margin calculations. It is primarily focused on basic calculations and loan-related scenarios.

How can I change the number of payments per year on this calculator?

The calculator's default setting is 12 payments per year, which is suitable for monthly payments. If you need to change the number of payments per year, you can do so by using the Shift P/Y key. For example, for quarterly payments, press 4 Shift P/Y. You can also check the current setting by pressing ON/C and then Shift P/Y.

What should I do if I encounter an error (ERROR display) on the calculator?

If the calculator displays ERROR, Press ON/C or Shift CLEAR ALL to clear all values. Press the CE key to clear the ERROR, but please note that the value on the display may still be effective and stored.

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