HP 113394 User Guide - Page 71

Section 3: Basic Financial Functions 71 Keystrokes Display 1f! ~ 1f! ~ :n -1,093.75 Portion of first payment applied to interest. -404.37 Portion of first payment applied to principal. -1,091.98 Portion of second payment applied to interest. -406.14 Portion of second payment applied to principal. 2.00 Total number of payments amortized. If you want to generate an amortization schedule but do not already know the monthly payment: 1. Calculate PMT as described on page 58. 2. Press 0n to reset n to zero. 3. Proceed with the amortization procedure listed on page 69 beginning with step 6. Example: Suppose you obtained a 30-year mortgage instead of a 25-year mortgage for the same principal ($250,000) and at the same interest rate (5.25%) as in the preceding example. Calculate the monthly payment, then calculate the amounts applied to interest and to the principal from the first month's payment. Since the interest rate is not being changed, do not press fCLEARG; to calculate PMT, just enter the new value for n, reset PV, then press P. Keystrokes Display 30gA 250000$ P 0n 1f! ~ :$ 360.00 Enters n. 250,000.00 Enters PV. -1,380.51 Monthly payment. 0.00 Resets n to zero. -1,093.75 Portion of first payment applied to interest. -286.76 Portion of first payment applied to principal. 249,713.24 Remaining balance. File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 71 of 275 Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm