A reverse annuity mortgage allows people over 62 years of age to use the equity they have in their homes to generate monthly income. The following procedure determines the amount of the monthly payment that they will receive.

Press g, BEG, f, FIN, then CLX

Key in the number of years in the loan and press g, then 12x

Key in the annual interest rate (as a percentage) and press g, then 12÷

Key in the amount of the initial cash flow (if it exists) and press PV

Key in the total loan amount and press CHS, then FV

Press PMT to calculate the monthly payment.