HP 12C User Manual page 43

Example 1: Your good friend needs a loan to start his latest enterprise and has
requested that you lend him $450 for 60 days. You lend him the money at 7%
simple interest, to be calculated on a 360-day basis. What is the amount of
accrued interest he will owe you in 60 days, and what is the total amount owed ?
Keystrokes
(RPN mode)
60n
7¼
450Þ$
fÏ
+
In ALG mode, perform the steps in the RPN listing above, except replace the last
step with the step below.
Keystrokes
(ALG mode)
+~}
Example 2: Your friend agrees to the 7% interest on the loan from the preceding
example, but asks that you compute it on a 365-day basis rather than a 360-day
basis. What is the amount of accrued interest he will owe you in 60 days, and
what is the total amount owed ?
Keystrokes
(RPN mode)
60n
7¼
450Þ$
fÏd~
+
In ALG mode, perform the steps in the RPN listing above, except replace the last
step with the step below.
Keystrokes
(ALG mode)
+~}
File name: hp 12c pt_user's guide_English_HDPMF123E27
Printed Date: 2005/8/1
Section 3: Basic Financial Functions
Display
60.00
Stores the number of days.
7.00
Stores the annual interest rate.
–450.00
Stores the principal.
5.25
Accrued interest, 360-day basis.
455.25
Total amount: principal plus accrued
interest.
Display
455.25
Total amount: principal plus accrued
interest.
Display
60.00
If you have not altered the numbers in
7.00
the n, i, and PV registers since the
–450.00
preceding example, you may skip
these keystrokes.
5.18
Accrued interest, 365-day basis.
455.18
Total amount: principal plus accrued
interest.
Display
455.18
Total amount: principal plus accrued
interest.
Page: 43 of 275
Dimension: 14.8 cm x 21 cm
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