Calculating The Payment Amount - HP 12C Platinum Owner's Handbook Manual
And problem-solving guide
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- User manual (288 pages) ,
- Reference manual (168 pages) ,
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48
Section 3: Basic Financial Functions
Calculating the Payment Amount
1. Press fCLEARG to clear the financial registers.
2. Enter the number of payments or periods, using n or A.
3. Enter the periodic interest rate, using ¼ or C.
4. Enter either or both of the following:
Present value, using $.
Future value, using M.
5. Press g× or g to set the payment mode.
6. Press P to calculate the payment amount.
Example 1: Calculate the payment amount on a 29-year, $43,400 mortgage at
14Ľ% annual interest.
Keystrokes
fCLEARG
29gA
14.25gC
43400$
gÂ
P
Example 2: Looking forward to retirement, you wish to accumulate $60,000
after 15 years by making deposits in an account that pays 9ľ% interest
compounded semiannually. You open the account with a deposit of $3,200 and
intend to make semiannual deposits, beginning six months later, from your
profit-sharing bonus paychecks. Calculate how much these deposits should be.
Note:
observe the cash flow
sign convention.
Display
Calculates and stores n.
348.00
Calculates and stores i.
1.19
43,400.00 Stores PV.
43,400.00 Sets payment mode to End.
Monthly payment (with minus sign
–523.99
for cash paid out).
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