Calculator showing its age? 14.5% interest. 1982 Calculated Industries.

By
Real Estate Agent with RE/MAX Advantage

1982 Calculated Industries example on back Calculator old

I still use it!  But I just checked its age.

I knew it was old but didn't realize it was this old!  Check the example on how to use this calculator where it says payment.  Loan amount was to be $75,000.  Interest rate was to be 14.5%. Term was to be 30 years.  Payment? $918.41!

Then I looked at the bottom fine print and it gave the brand, Calculated Industries Inc. 1982!  It is hard to believe that interest rates actually went higher than this in the 80's.  I was a struggling real estate agent and was delighted to learn how to use a calculator that figured all of these things. 

So what would that $75,000 house loan for 30 years be at today's rates.  $75,000 at 3.25 interest would have a payment of $326.40 principal and interest.   And for the $918 payment you could get a $211,000 home!!

Times do change, don't they.........

Comments (7)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Barbara - treasures of all kinds can be found when we search through the archives.  

Jun 24, 2021 10:18 AM
Shayne Stone
Champion Real Estate Group - Missouri City, TX
"Your Rock Solid Choice Realtor"

Great information!  Thanks for sharing and have a wonderful day!

Jun 24, 2021 10:31 AM
Barbara S. Duncan
RE/MAX Advantage - Searcy, AR
GRI, e-PRO, Executive Broker, Searcy AR

Michael, it is a treasure.  How much longer can it last?

Jun 24, 2021 11:58 AM
Barbara S. Duncan
RE/MAX Advantage - Searcy, AR
GRI, e-PRO, Executive Broker, Searcy AR

Shayne, I love that calculator.

Jun 24, 2021 11:58 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I have one of those old calculators that I take out and show folks when they wonder about interest rates today.  When I was first licensed in November 1981, the interest rate was 18%.

Jun 24, 2021 06:24 PM
Barbara S. Duncan
RE/MAX Advantage - Searcy, AR
GRI, e-PRO, Executive Broker, Searcy AR

I got my license in 1979 and when I looked at this 14.5% rate I thought that it had gone up to around 18%.  We had lots of owner financing and assumption of loans.  FHA and VA loans were assumable with no credit check at the time.  And Farmer's Home Loans were also easy to assume.

Jun 25, 2021 05:43 AM
Wayne Posey, Broker on Florida's Space Coast
Posey & Co., REALTORS - Rockledge, FL
"Nobody knows the Space Coast like a Native"

Barbara,

 Thanks for the trip down memory lane Barbara.

Some homebuyers don't know how good things are.

My highest number of sales were in 1984, with 16.5% interest rate. The assumable fixed rate loans were awesome.

Any of you "seasoned" professionals get surprised when the closing agent agent pulled-out a "call option rider" when the buyers signed the mortage?

 

 

Wayne Posey

REALTOR® Emeritus

Posey & Co.

Cell:    321-537-9585   

email: soar321@rocketmail.com

 

"Nobody knows the Florida Space Coast better then a Native"

 

 

 

Jun 25, 2021 12:55 PM