Section 3: Basic Financial Functions
71
File name: HP 12cpt_user's guide_English_110608.DOC
Page: 71 of 285
Printed Date: 2009/1/13
Dimension: 14.8 cm x 21 cm
Keystrokes
Display
1
f!
–1,093.75
Portion of first payment applied to
interest.
~
–404.37
Portion of first payment applied to
principal.
1
f!
–1,091.98
Portion of second payment applied to
interest.
~
–406.14
Portion of second payment applied to
principal.
:n
2.00
Total number of payments amortized.
If you want to generate an amortization schedule but do not already know the
monthly payment:
1. Calculate
PMT
as described on page 59.
2. Press 0
n
to reset
n
to zero.
3. Proceed with the amortization procedure listed on page 69 beginning with
step 6.
Example:
Suppose you obtained a 30-year mortgage instead of a 25-year
mortgage for the same principal ($250,000) and at the same interest rate (5.25%)
as in the preceding example. Calculate the monthly payment, then calculate the
amounts applied to interest and to the principal from the first month’s payment.
Since the interest rate is not being changed, do not press
f
CLEAR
G
; to
calculate
PMT
, just enter the new value for
n
, reset
PV
, then press
P
.
Keystrokes Display
30
gA
360.00
Enters
n.
250000
$
250,000.00
Enters
PV.
P
–1,380.51
Monthly payment.
0
n
0.00
Resets
n
to zero.
1
f!
–1,093.75
Portion of first payment applied to
interest.
~
–286.76
Portion of first payment applied to
principal.
:$
249,713.24
Remaining balance.
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: ......