HP 12C Platinum Owner's Handbook Manual page 12

6% annually, compounded monthly. What payment amount would be required in
order to accumulate $10,925.75 in the 14 years remaining?
Keystrokes
fCLEARG
14gA
6gC
10925.76M
gÂ
P
Example 4: Suppose you cannot find a bank that currently offers an account
with 6% annual interest compounded monthly, but you can afford to make
$45.00 monthly payments. What is the minimum interest rate that will enable
you to accumulate the required amount?
In this problem, we do not need to clear the previous financial data inside the
calculator, since most of it is unchanged from the preceding example.
Keystrokes
45ÞP
¼
12§
This is only a small sampling of the many financial calculations that can now be
done easily with your HP 12C Platinum. To begin learning about this powerful
financial tool, just turn the page.
Making Financial Calculations Easy
Display
Clears previous financial data
10,470.85
inside the calculator.
Calculates and stores the number of
168.00
compounding periods.
Calculates and stores the periodic
0.50
interest rate.
Stores the future value required.
10.925.76
Sets payment mode to End.
10.925.76
Monthly payment required.
–41.65
Display
Stores payment amount.
–45.00
Periodic interest rate.
0.42
Annual interest rate.
5.01
13