Add-On Rate Loan With Credit Life - HP 12c Platinum Reference Manual

2. Enter the following information:
a. Key in number of months of loan and press n .
b. Key in APR and press gC .
c. Key in 100 and press $P .
3. RPN: Press :$:nz+Þ12§ to obtain the add-on rate.
3. ALG: Press :$z:n+~§12³Þ to obtain the add-on rate.
Example 1: What is the equivalent add-on rate for an 18 month loan with an APR of
14%?
12c platinum / 12C
RPN Keystrokes
gÂ
fCLEARG
18n14gC
100$P:$
:nz+Þ
12§

Add-On Rate Loan with Credit Life

This HP 12C Platinum program calculates the monthly payment amount, credit life
amount (an optional insurance which cancels any remaining indebtedness at the death of
the borrower), total finance charge, and annual percentage rate (APR) for an add-on
interest rate (AIR) loan. The monthly payment is rounded (in normal manner) to the
nearest cent. If other rounding techniques are used, slightly different results may occur.
12c platinum / 12C
RPN KEYSTROKES
fs
fCLEARÎ
gÂ
1
:0
1
2
0
0
z
?4
:2
12c platinum
ALG Keystrokes
gÂ
fCLEARG
18n14gC
100$P:$
z:n+~
§12³Þ
DISPLAY
000,
8 gÂ
001, 43
1 :0
002,
0 n
003, 45
1 :gA
004,
2 b
005,
0 ?4
006,
0 §
007,
10 :2
008,
4 ³
009, 44
2 :4
010, 45
Display
Add-On Interest Rate.
7.63
12c platinum
ALG KEYSTROKES
fs
fCLEARÎ
Lending 27
Comments
DISPLAY
000,
001, 43 8
002, 45 0
003, 11
004,45,43 11
005, 25
006, 44 4
007, 20
008, 45 2
009, 36
010, 45 4