Ordering a 623N

Product Features

Accessories

Support

623N
Product
Features

This product is specially designed for lenders in New York State for group credit insurance.  For those lenders using single-premium credit insurance, this product will replace the 623J product.

The 623N program computes full and truncated single-premium credit insurance premiums and refunds in accordance with recently (2000) revised New York Regulation 27.

The life insurance can be limited by either a "level-excess" or pro-rate method.  (The method used is determined by the particular credit insurance plan.)

Interest is computed by the U.S. Escrow Rule, using the Actual-to-First Payment calendar system.

This program performs the same calculations as the PROM 523N LoanMaker PC Program.

This program has the following capabilities:

• Computes installment loans with full or truncated single-premium credit insurance.  The payment can be computed from an entered loan amount, or the available loan amount can be computed from an entered payment amount.

• Computes credit-insurance single-premium refunds for life and disability insurance.  The original loan term and date, as well as the payoff date are entered.

• Computes single-payment loans.

• Computes residual-value (balloon) loans where the final payment is known.  (For example, a balloon loan where the balloon is tied to the expected value of a vehicle at the end of the loan.)  Single-premium insurance (full-term only) can be computed for terms up to five years.

• Computes dealer reserve and interest rate buy down amounts for indirect lending.  The dealer reserve can be computed by three different methods.

• Computes Truth-in-Savings interest rates and interest earned amounts.

For more information, read or download the current
623N User's Guide.

For optional printer, see Accessories.

• Battery Replacement

• Download User's Guide

• Instant Upgrade Service

• Returning Your Calculator for Service

• Setup Codes

• Software Update Information

To change batteries, you should first have the replacement batteries at hand (two CR-2032 Lithium batteries are required) and a small screwdriver to remove the two screws on the back of the calculator. Make sure you install the new batteries with the same orientation (plus and minus) as the original batteries (this is also shown on a diagram on the inside of the back cover). 

The CR-2032 battery is available at Radio Shack stores, camera or electronics stores, and other places that sell small batteries.  It is round, about 0.75 inches (19 mm) in diameter and 0.125 inches (3.175 mm) thick.

Click here for detailed instructions on changing the handheld calculator batteries (instructions are also in the User's Guide).

You may have to setup the calculator after replacing the batteries.  See Setup Codes or 623N User's Guide.

If the calculator still does not work, the calculator and/or card are probably defective and need repair.  The calculator and card should be Returned for Service.

Effective January 1st, 2004, all calculators should be updated to the M07.1.20 version to comply with the credit insurance plan change effective that date.

This is a list of the most recent changes together with the date they were made and the software Series number.  The most recent version is at the top of the following list.

If your calculator is not working properly and needs repair, or you wish us to install the new software, clean and check the calculator, and replace the calculator's batteries (or if you have an earlier-style calculator that you wish to trade in) see Returning Your Calculator For Service.

Configuration of the calculator is done through the Setup Routine.  After you press the Setup Function Key, you have to enter a code number to access a routine.  This is a list of the setup codes and a short description of what they do.  Full details are in the 623N User's Guide.