HP 12C Platinum 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)
+~}
Section 3: Basic Financial Functions
Display
Stores the number of days.
60.00
Stores the annual interest rate.
7.00
Stores the principal.
–450.00
Accrued interest, 360-day basis.
5.25
Total amount: principal plus accrued
455.25
interest.
Display
Total amount: principal plus accrued
455.25
interest.
Display
If you have not altered the numbers in
60.00
7.00 the n, i, and PV registers since the
–450.00
preceding example, you may skip
these keystrokes.
Accrued interest, 365-day basis.
5.18
Total amount: principal plus accrued
455.18
interest.
Display
Total amount: principal plus accrued
455.18
interest.
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