Рйт1, O(e3, Exampio: amortizing a range of paymanta – HP 10B User Manual
Page 71: Keya, Display: 12.00, Deacrlption
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Exampio: Amortizing a Range of Paymanta.
Calcuiate the first
tvb-o years of (he annual amortization schedule for a 30 year, $80,000
mortgage, at 9.75% annual interest with monthly payments.
Set to End mode. Press №B£0/ENDI if
aEOIN
annunciator is displayed.
Keya:
9.75
80000 fPVl
o(E3
[РЙТ1
Display:
12.00
360.00
9.75
80.000.00
0.00
-687.32
Deacrlption:
Sets payments per year.
Stores total number of
payments.
Stores interest per year.
Stores present value.
Stores future value.
Calculates monthly
payment.
If you already know (he mortgage payment, you ean enter and store it just
like you store (he other four values. Next, amortize the first year.
1 IINPUTI12
12
_
Enters starting and
ending periods.
PErl- 12
Displays range.
0
Int
-7.779.42
Displays label» then
interest paid the first
>'car.
Ы
Prin
-46842
Displays labcii then
principal paid the first
>*car.
0
bAL
79.531.58
Displays label, then loan
balance after one year.
The amount paid toward interest and principal (7,779.42 + 468.42 «
8.247.84) equals the total of 12 monthly payments (12
x
687Л2 >
8.247.84) . The remaining balance equals the initial mortgage, less the
amount applied toward principal (80,000 - 468.42 = 79,531..58).
68 S: Tim* Vatu* of Money ColeuloUons