Victor Technology V12 User Manual
Page 20
V I C T O R T E C H N O L O G Y
20
Example
ENTRIES (RPN)
DISPLAY
b FIN
0.00
Clears the financial registers.
360 n
.
360.00
Displays 360 months for a 30 year loan.
6 r i
.
0.50
Displays the interest rate of 6% per year or 0.5%
per month.
400000 PV
400.000.00
Displays the loan amount or present value.
-70000 FV
-70,000.00
Displays the future value required to pay off the
loan (the balloon payment)
PMT
-2,328.52
Displays the monthly payment required to reach a
$70.000 balloon payment.
Amortization Function
To Amortize is to liquidate a debt, such as a mortgage by installment payments.
Amortization is the gradual elimination of a liability, such as a mortgage, in
regular payments over a specified period of time. Such payments must be
sufficient to cover both principal and interest. With the Amortization Function
the V12 can calculate the total amount of principle (liability) and interest paid
after a specified number of installments.
The following steps are required to determine the Amortization status of a loan:
• Push b CLEAR FIN first to reset financial registers of previous data
• Using i or r 12÷ , enter periodic interest rate
• Enter the principal using PV
• Enter the periodic payment, then push CHS PMT
• Select r BEG or r END to set the payment function