HP 12c Platinum Reference Manual page 39

Example: A bulldozer worth $100,000 is being purchased in September. The first
payment is due one month later, and payments will continue over a period of 5 years. Due
to the weather, the machinery will not be used during the winter months, and the
purchaser does not wish to make payments during January, February, and March (months
4 thru 6). If the current interest rate is 14%, what is the monthly payment necessary to
amortize the loan?
12c platinum / 12C
RPN Keystrokes
gÂ
fCLEARG
3n
14gC
1PMÞ$
12:n-n
0PM?0
:n3-n
1P0$M
?+0
0P12n
100$M
:$+Þ
fCLEARG¼
5n100000$
P:0z
12c platinum
ALG Keystrokes
gÂ
fCLEARG
3n
14gC
1PMÞ$
12-:nn
0PM?0
:n-3n
1P0$M
?+0
0P12n
100$M
+:$³Þ
fCLEARG¼
5n100000$
Pz:0³
Display
Number of payments made
3.00
before a group of payments is
skipped.
Monthly interest rate.
1.17
FV of 3 monthly unit PMTs.
-3.37
FV of 6 monthly unit PMTs.
-6.18
Effective annual interest rate
14.93
Monthly payment in arrears.
3,119.89
Lending 39
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