HP 113394 User Guide - Page 66

66 Section 3: Basic Financial Functions Keystrokes (ALG mode) Display 2.152004} 3.012004 gÒ ~ z30+ 36n 5gC 4500$ P 2.15 3.012004 15.00 16.00 0.53 36.53 0.42 4,500.00 -135.17 Keys in the date interest begins accruing and separates it from the next date entered. Keys in the date of the beginning of the first period. Actual number of odd days. Number of odd days counted on the basis of a 30-day month. Divides by the length of a monthly period to get the fractional part of n. Adds the fractional part of n to the number of complete payment periods, then stores the result in n. Calculates and stores i. Stores PV. Monthly payment. Example 2: A 42-month loan of $3,950 for a used car began accruing interest on July 19, 2004, so that the first period began on August 1, 2004. Payments of $120 are made at the end of each month. Calculate the annual percentage rate (APR), using the actual number of odd days and simple interest for the odd period. Keystrokes (RPN mode) Display fCLEARG ?Æ 7.192004\ 8.012004 gÒ 30z 7.19 8.012004 13.00 0.43 Clears financial registers. Turns off the C indicator in the display, so that simple interest will be used for the odd period. Keys in the date interest begins accruing and separates it from the next date entered. Keys in the date of the beginning of the first period. Actual number of odd days. Divides by the length of a monthly period to get the fractional part of n. File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 66 of 275 Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm