Personal Finance; Homeowners Monthly Payment Estimator - HP 12c Platinum Reference Manual

Homeowners Monthly Payment Estimator

It is often useful, when comparison shopping for a mortgage or determining the
appropriate price range of houses to consider, to be able to quickly estimate the monthly
payment given the purchase price, tax rate per $1000, percent down, interest rate and term
of the loan.
The calculation assumes that the assessed value is 100% of the sales price and does not
take into account financing of the closing costs.
A simple keystroke procedure may be used to calculate the monthly payment:
1.
Press g and press f CLEAR G .
2. Key in the annual interest rate and press gC .
3. Key in the term of the loan (in years) and press gA .
4. Key in the purchase prices and press ? 1.
RPN Mode:
5. Key in the percent down and press b-$ .
6. Key in the tax rate in dollars per thousand and press
: 1 § 12000 zÞ\PP+ .
(A negative sign is the convention for cash paid out).
ALG Mode:
5.
Press -, key in the percent down and press
b$P: 1 § .
6. Key in the tax rate in dollars per thousand and press
Þz 12000 +~³ .
(A negative sign is the convention for cash paid out).
Example: What would your monthly payments be on a $65,000 house in a neighborhood
with a $25 per thousand tax rate and a 10 ¾ % interest rate on a 35 year loan with 10%
down?
12c platinum / 12C
RPN Keystrokes
gÂ
fCLEARG
10.75gC
35gA
65000?1

Personal Finance

12c platinum
ALG Keystrokes
gÂ
fCLEARG
10.75gC
35gA
65000?1
Display
Monthly interest rate.
0.90
Months of loan.
420.00
Purchase price.
65,000.00
121
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