HP 113394 User Guide - Page 205

Section 14: Leasing 205 Example 2: Using the preceding program, solve for the monthly payment using the information given in example 1. Then change the yearly interest to 15% and solve for the new payment amount. Keystrokes (RPN mode) f] 12?0 3?1 Keystrokes (ALG mode) f[ 12?0 3?1 Display 12.00 3.00 10\12z ?2 750?3t 10z12³ ?2 750?3t 0.83 0.83 64.45 15\12z ?2t 15z12³ ?2t 1.25 65.43 Duration of lease. Number of advance payments. Periodic interest rate. Monthly payment to be received. Monthly payment to achieve a 15% yield. Example 3: Using the information from example 1, what monthly payment is necessary to yield the lessor 15% annually if one payment is due at the time of closing? Assuming that the previous example was just solved, the keystrokes are as follows: Keystrokes (RPN mode) 1?1t Keystrokes (ALG mode) 1?1t Display 66.86 Monthly payment to be received. Since this problem is an annuity due situation (one payment at the beginning of the period) the calculation could also be done as follows: Keystrokes (RPN mode) Keystrokes (ALG mode) Display g× g× fCLEARG fCLEARG 12n 12n 12.00 15gC 15gC 1.25 750Þ$P 750Þ$P 66.86 Duration of lease. Periodic interest rate (into i). Monthly payment to be received. File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 205 of 275 Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm