HP 12C User Manual page 61

Example 1: In Example 1 on page 59, we calculated that the payment amount
on a 29-year, $243,400 mortgage at 5.25% annual interest compounded monthly
is $1,363.29. If the seller requests a balloon payment at the end of 5 years, what
would be the amount of the balloon ?
Keystrokes
fCLEARG
5gA
5.25gC
243400$
1363.29ÞP
gÂ
M
Example 2: If you deposit $50 a month (at the beginning of each month) into a
new account that pays 6.25% annual interest compounded monthly, how much
will you have in the account after 2 years ?
File name: hp 12c pt_user's guide_English_HDPMF123E27
Printed Date: 2005/8/1
Section 3: Basic Financial Functions
Display
60.00
Calculates and stores n.
0.44
Calculates and stores i.
243,400.00
Stores PV.
–1,363.29
Stores PMT (with minus sign for
cash paid out).
–1,363.29
Sets payment mode to End.
–222,975.98
Amount of balloon payment.
Page: 61 of 275
Dimension: 14.8 cm x 21 cm
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