HP 12C Platinum User Manual page 60

60 Section 3: Basic Financial Functions
Example 2: Looking forward to retirement, you wish to accumulate $60,000
after 15 years by making deposits in an account that pays 9.75% interest
compounded semiannually. You open the account with a deposit of $3,200 and
intend to make semiannual deposits, beginning six months later, from your
profit-sharing bonus paychecks. Calculate how much these deposits should be.
Keystrokes
(RPN mode)
fCLEARG
15\2µw
9.75\2z¼
3200Þ$
60000M
gÂ
P
Keystrokes
(ALG mode)
fCLEARG
15µ2w
9.75z2¼
3200Þ$
60000M
gÂ
Display
30.00 Calculates and stores n.
Calculates and stores i.
4.88
Stores PV (with minus sign for cash
–3,200.00
paid out).
Stores FV.
60,000.00
Sets payment mode to End.
60,000.00
Semiannual payment (with minus
–717.44
sign for cash paid out).
Display
30.00 Calculates and stores n.
Calculates and stores i.
4.88
Stores PV (with minus sign for cash
–3,200.00
paid out).
Stores FV.
60,000.00
Sets payment mode to End.
60,000.00