205
File name: HP 12c Pt Converted_user's guide_English_HDP0F123E02_080207
Page: 280 of 281
Printed Date:
{
2007/8/2Dimension: 14.8 cm x 21 cm
Section 14
Leasing
Advance Payments
Situations may exist where payments are made in advance (leasing is a good
example). These agreements call for extra payments to be made when the
transaction is closed.
This first procedure finds the periodic payment amount necessary to achieve a
desired yield when a number of payments are made in advance. And, given the
periodic payment, the second procedure calculates the periodic yield.
Solving for Payment
To calculate the payment, information is entered as follows:
1. Press
gÂ
and
f
CLEAR
G
.
RPN Mode:
2. Key in the total number of payments in the lease then press
\
.
3. Key in the total number of payments made in advance then press
?
0
-n
.
4. Key in or calculate the periodic interest rate as a percentage then press
¼
.
5. Press 1
ÞP$:
0
+
.
6. Key in the initial loan amount then press
~z
, to obtain the periodic
payment to be received by the lessor.
ALG Mode:
2. Key in the total number of payments in the lease.
3. Key in the total number of payments made in advance then press
-?
0
n
.
4. Key in or calculate the periodic interest rate as a percentage then press
¼
.
5. Press 1
ÞP$+:
0
³
.
6. Key in the initial loan amount then press
z~³
, to obtain the
periodic payment to be received by the lessor.
Summary of Contents for 12C
Page 1: ...HP 12c Platinum Financial Calculator User s guide H Edition 5 HP part number F2231AA 90001 ...
Page 15: ...Part I Problem Solving ...
Page 48: ...48 Section 3 Basic Financial Functions ...
Page 104: ......
Page 105: ...Part II Programming ...
Page 156: ......
Page 157: ...Part III Solutions ...
Page 230: ......
Page 231: ...Appendices ...
Page 277: ......