HP 113394 User Guide - Page 53

Section 3: Basic Financial Functions 53 Example 2: You're opening a savings account today (the middle of the month) with a $775 deposit. The account pays 6.25% interest compounded semimonthly. If you make semimonthly deposits of $50 beginning next month, how long will it take for your account to reach $4,000? Keystrokes (RPN mode) fCLEARG 6.25\24z¼ 775Þ$ 50ÞP 4000M g n 2z Keystrokes (ALG mode) fCLEARG 6.25z24¼ 775Þ$ 50ÞP 4000M Display 0.26 -775.00 -50.00 4,000.00 4,000.00 58.00 29.00 Calculates and stores i. Stores PV (with minus sign for cash paid out). Stores PMT (with minus sign for cash paid out). Stores FV. Sets the payment mode to End. Number of semimonthly deposits. Number of months. Display 0.26 -775.00 -50.00 4,000.00 Calculates and stores i. Stores PV (with minus sign for cash paid out). Stores PMT (with minus sign for cash paid out). Stores FV. File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 53 of 275 Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm