HP 12C User Manual page 59

5. Press g× or g to set the payment mode.
6. Press P to calculate the payment amount.
Example 1: Calculate the payment amount on a 29-year, $243,400 mortgage
at 5.25% annual interest, compounded monthly.
Keystrokes
fCLEARG
29gA
5.25gC
243400$
gÂ
P
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.
File name: hp 12c pt_user's guide_English_HDPMF123E27
Printed Date: 2005/8/1
Section 3: Basic Financial Functions
Display
348.00
Calculates and stores n.
0.44
Calculates and stores i.
243,400.00
Stores PV.
243,400.00
Sets payment mode to End.
–1,363.29
Monthly payment (with minus sign
for cash paid out).
Page: 59 of 275
Dimension: 14.8 cm x 21 cm
59