HP 12C Platinum Owner's Handbook Manual page 40

42 Section 3: Basic Financial Functions
If the answer calculated is not an integer (that is, there would be nonzero digits to
the right of the decimal point), the calculator rounds the answer up to the next
higher integer before storing it in the n register and displaying it.
if n were calculated as 318.15, 319.00 would be the displayed answer.
n is rounded up by the calculator to show the total number of payments needed:
n–1 equal, full payments, and one final, smaller payment. The calculator does
not automatically adjust the values in the other financial registers to reflect
n equal payments; rather, it allows you to choose which, if any, of the values to
9
adjust. Therefore, if you want to know the value of the final payment (with
which you can calculate a balloon payment) or desire to know the payment value
for n equal payments, you will need to press one of the other financial keys, as
shown in the following two examples.
Example 1: You're planning to build a log cabin on your vacation property. Your
rich uncle offers you a $35,000 loan at 10.5% interest. If you make $325
payments at the end of each month, how many payments will be required to pay
off the loan, and how many years will this take?
Keystrokes(RPN mode)
fCLEARG
10.5gC
35000$
325ÞP
gÂ
n
12z
8.
The calculator will round n down to the next lower integer if the fractional portion of n is less
than 0.005.
9.
After calculating n, pressing
corresponding financial register.
Display
Calculates and stores i.
0.88
35,000.00 Stores PV.
Stores PMT (with minus sign for
–325.00
cash paid out).
Sets the payment mode to End.
–325.00
Number of payments required.
328.00
Twenty-seven years and four
27.33
months.
¼ $ P M
, , , or will recalculate the value in the
8
For example,