HP 113394 User Guide - Page 61
HP 113394 - 12C Platinum Calculator Manual
UPC - 808736340502
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Section 3: Basic Financial Functions 61 Example 1: In Example 1 on page 59, we calculated that the payment amount on a 29-year, $243,400 mortgage at 5.25% annual interest compounded monthly is $1,363.29. If the seller requests a balloon payment at the end of 5 years, what would be the amount of the balloon? Keystrokes Display fCLEARG 5gA 5.25gC 243400$ 1363.29ÞP g M 60.00 Calculates and stores n. 0.44 Calculates and stores i. 243,400.00 Stores PV. -1,363.29 Stores PMT (with minus sign for cash paid out). -1,363.29 Sets payment mode to End. -222,975.98 Amount of balloon payment. Example 2: If you deposit $50 a month (at the beginning of each month) into a new account that pays 6.25% annual interest compounded monthly, how much will you have in the account after 2 years? File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 61 of 275 Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm