HP 0012C-90001 User Manual page 56

56 56 Section 3: Basic Financial Functions Section 3: Basic Financial Functions
56 56 Section 3: Section 3: Basic Financial Functions Basic Financial Functions
Keystrokes Keystrokes
Keystrokes Keystrokes
1f!
~
1f!
~
:w
If you want to generate an amortization schedule but do not already know the
monthly payment:
PMT
1. Calculate as described on page 46.
2. Press 0w to reset
3. Proceed with the amortization procedure listed on page 54 beginning with
step 6.
Example: Suppose you obtained a 30-year mortgage instead of a 25-year Example:
Example: Example:
mortgage for the same principal ($50,000) and at the same interest rate (13
as in the preceding example. Calculate the monthly payment, then calculate the
amounts applied to interest and to the principal from the first month's payment.
Since the interest rate is not being changed, do not press fCLEARG; to
PMT
calculate , just enter the new value for
Keystrokes Keystrokes
Keystrokes Keystrokes
30gA
50000$
P
0w
1f!
~
:$
Display Display
Display Display
–552.08 Portion of first payment applied to
interest.
–21.27 Portion of first payment applied to
principal.
–551.85
Portion of second payment applied to
interest.
–21.50
Portion of second payment applied to
principal.
2.00
Total number of payments amortized.
n
to zero.
n
, reset
Display Display
Display Display
360.00 Enters
50,000.00
Enters
–562.89
Monthly payment.
0.00
Resets
–552.08
Portion of first payment applied to
interest.
–10.81
Portion of first payment applied to
principal.
49,989.19 Remaining balance.
, then press P.
PV
n.
PV.
n
to zero.
1
/ %)
4